FY 2010 ended September 30. Here’s the fiscal picture.
As FY 2011 dawned on October 1, the national debt stood at $13.56 trillion.
One year earlier it stood at $11.91 trillion.
By a simple process of subtracting the 2009 debt from the 2010 debt, we get a difference of $1.65 trillion. That is the FY 2010 budget deficit.
Is that a record? The news media will say it is because they say last year’s deficit was $1.4 trillion. But we saw here that in fact the deficit was $1.88 trillion. So, no record. There’s always next year.
(HT Ken Sturzenacker)
