Deficit Day Sounds Alarm on 'Tax, Borrow and Spend'

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The Hill

Deficit Day Sounds Alarm on 'Tax, Borrow and Spend'

Antony Davies | Sep 12, 2012

This excerpt originally appeared in The Hill on September 12, 2012.

Harrigan and Davies state “if the federal government were to spend the same amount of money each day starting on January 1, it would run through all of its tax revenue by September 10.” As a result of these findings, September 10 has been declared “Deficit Day.” This means that the government is borrowing $10 billion dollars every day from now until the end of the year—a total of 110 days.
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