5/19/2011

Change in Total Public Debt Outstanding by Month

The data is available here. This is relevant for lifting the debt ceiling debate and how much government spending will have to be cut in August and September. Click chart to make it larger.

For 2009 and 2010, the increase in debt during August and September averages about 90% of what it has in the other 10 months of the year. The bottom line is that without the ability to borrow money next year government spending will have to be cut by 29.5 percent. For August and September, assuming that no additional short-term fixes can be found, spending will have to be cut by 36 percent.

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