CalculatedRisk reports on the increase in total Federal debt for the fiscal year ended September 30, 2006:
The Treasury Department reported today that the National Debt increased $574.3 Billion in Fiscal 2006, compared to $553.7 Billion in Fiscal 2005. The record annual increase was $595.8 Billion in Fiscal 2004.
And before one argues that 2006 was $20 billion better than 2004, check out the gimmicks used to keep the reported number from reaching $600 billion as reported by CR who concludes:
Not paying your bills and relying on accounting tricks doesn’t make the fiscal situation better; it just makes it look better in the short term.
Is there some election coming up soon – or what?