Fiscal Year 2010 is Upon Us
Today marks the end of fiscal year 2009 (FY 2009), and to celebrate the occasion, the Committee for a Responsible Federal Budget has put together a look back over the top ten important numbers from the last year.
CRFB highlights the important numbers from FY 2009, including dollars added to the national debt over the last year ($1,650,971,205,167), the amount spent by the American Recovery and Reinvestment Act (ARRA) so far ($164 billion), and the deficit as a percent of GDP this year (11.2 percent). The rest of our top ten important numbers can be seen in the release.
In remarking on the occasion, CRFB president Maya MacGuineas warned: “Many of the deficit-increasing actions the government has taken were necessary to strengthen the economy. But if not accompanied by efforts to reduce the long-term fiscal gap, they come at the expense of future growth and prosperity. It's not too late to get our fiscal house in order though -- we should make that as our fiscal New Year's resolution.”