This week, annual federal spending surpassed the $3 trillion mark
for the first time in our nation's history. In July, the U.S.
government spent more money -- $332 billion -- than in any other month
in history.
The current deficit for the year stands at $1.27 trillion -- three
times last year's record of $459 billion. The individual share of this
year's deficit for every American is $4,100 -- by fall that share will
approach $6,000. The national debt currently stands at $11.7 trillion,
or $38,000 for every American.
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