So the Deficit is Not Declining

admin | October 2, 2006 3:34 pm

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?

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