Shadowy $142 Billion More Borrowed in June Than Needed to Cover Deficit

07-13-2010 • ZeroHedge.com

Once again, as has been the case over the past four years, the US borrowed far more in any deficit month, then it needed simply to close the deficit. Case in point, the June differential was $142.5 billion more borrowed than "needed", the YTD (fiscal) differential is $290 billion, and the cumulative differential since the beginning of the 2007 Fiscal year (October 2006), is a whopping $1.5 trillion. Over the past 3 years and 9 months, the US has accumulated an incremental $4.7 trillion in new debt, even as the budget deficit has grown by "only" $3.2 trillion. One wonders just what the reason for this differential is, which amounts to half the cumulative budget deficit over the same time period? The cumulative data, as well as the stunning differential between the two time series is presented on the attached chart.

1 Comments in Response to Shadowy $142 Billion More Borrowed in June Than Needed to Cover Deficit

Comment by PureTrust

Entered on: 7/14/2010 12:08:13 PM

Deficit shmeficit. All there really is, is bankers and Government trying their hardest to cover up from the public people of the world, the fact that there isn't any national debt in the US, and that there isn't any debt in the rest of the world. This so that they can keep the people under their boot and away from freedom.

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