The Current Federal Deficit Is $1.667 Trillion

10-02-2010 • Market-ticker.denninger.org/

The final month is now in the books on the fiscal, and here's the answer: This brings the monthly deficit to $111.970 billion. Thus far, on the current calendar year, the "run rate" is $1.667 trillion, essentially identical to last year. There isn't anything to say about this other than "they're not slowing down a damn bit." For whatever reason people keep coming to the Treasury Auctions and so far there have no wild "tails" on the Treasury offerings. Everyone seems so sanguine about a nation that's running 12% of its GDP in deficits - a level higher than where nations typically blow up (10-11% when sustained for more than a year or so, when not in a time of actual "hot" war.) How long does it go on? Not a clue. All I know is that which can't continue forever, won't, and as such I'm dancing damn close to the door.