The monthly budget statement was just released today, and in November the federal government took in $133.6 bln and spent $253.9 bln. This works out to $1.90 going out for every $1.00 coming in. Believe it or not, this is actually an improvement from October when the ratio was $2.3 going out for every $1 coming in! Over the last 12 months alone, the Federal government has racked up a deficit of $1.4 trillion. Needless to say, this pace of spending versus income can't keep up forever, and today's lousy 30-year auction is an indication that investors aren't too keen on locking up their funds in long-term IOUs from Uncle Sam right now.
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