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Fiscal year ends Sept 30 for government accounting.
Anybody else looked into some of the results of the extraordinary measures the treasury took in 2013 to keep the under the debt limit as it relates to 2013/2014 deficits? As I look at it, it appears the result of those extraordinary measures are being felt in 2014 deficit levels and may impact the total for 2014.
In 2013 we ran a deficit of roughly 680billion dollars and ended with a national debt of 16.738 trillion.
Today our national debt stands at ~17.15 trillion. Over a 400 billion deficit only a few months into 2014 fiscal year. Whats the significant or insignificance of this? Did the accounting measures to keep under the debt limit ceiling during the debt limit debate land in 2014? What else explains the massive debt increase relative to the time period between end of fiscal year 2013 and today?
We had the largest single day debt increase in the nations history on or about Oct 17, did that take care of the debt we couldn't account for in 2013 due to the debt limit or can we expect the massive current deficit simply to last the treasury through 2/3's of fiscal year 2014?
I'm really wondering if the 680billion deficit for 2013 is going to be relevant for 2014 or not. The Fed is purchasing 70% of new treasury debt issuance and, this becomes a lower number (less of a problem) if we keep current QE levels and government runs a larger deficit for 2014.
Does anyone have the numbers for estimated deficit for 2014 and where that lands related to current national debt of 17.15trillion? I can find deficit estimates, but not a deficit estimate that explicitly states where that puts national debt. I have a hard time believing national debt will be < 17.5 trillion on Sept 30 2014 unless our current deficit is scheduled to fund us through April/May.
This article might be of interest and is where i'm grabbing my numbers.
Anybody else looked into some of the results of the extraordinary measures the treasury took in 2013 to keep the under the debt limit as it relates to 2013/2014 deficits? As I look at it, it appears the result of those extraordinary measures are being felt in 2014 deficit levels and may impact the total for 2014.
In 2013 we ran a deficit of roughly 680billion dollars and ended with a national debt of 16.738 trillion.
Today our national debt stands at ~17.15 trillion. Over a 400 billion deficit only a few months into 2014 fiscal year. Whats the significant or insignificance of this? Did the accounting measures to keep under the debt limit ceiling during the debt limit debate land in 2014? What else explains the massive debt increase relative to the time period between end of fiscal year 2013 and today?
We had the largest single day debt increase in the nations history on or about Oct 17, did that take care of the debt we couldn't account for in 2013 due to the debt limit or can we expect the massive current deficit simply to last the treasury through 2/3's of fiscal year 2014?
I'm really wondering if the 680billion deficit for 2013 is going to be relevant for 2014 or not. The Fed is purchasing 70% of new treasury debt issuance and, this becomes a lower number (less of a problem) if we keep current QE levels and government runs a larger deficit for 2014.
Does anyone have the numbers for estimated deficit for 2014 and where that lands related to current national debt of 17.15trillion? I can find deficit estimates, but not a deficit estimate that explicitly states where that puts national debt. I have a hard time believing national debt will be < 17.5 trillion on Sept 30 2014 unless our current deficit is scheduled to fund us through April/May.
This article might be of interest and is where i'm grabbing my numbers.
http://useconomy.about.com/od/usdebtanddeficit/a/National-Debt-by-Year.htmThe U.S. national debt breached a record $17 trillion on October 17 2013, greater than the economic output of the entire country. This was right after the government shutdown ended and the debt ceiling was raised. Democrats and Republicans ended the stalemate by forming a budget conference committee to try and agree on how to lower the debt. This debt crisis has been ongoing since 2011, when the U.S. headed toward a debt default, and continued with the fiscal cliff crisis in 2012.
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