News Columns & Blogs

Government in the red for rest of the year

If the federal government's spending were spread out evenly over the calendar year, Wednesday would have been the day the revenue ran out. For the remaining 97 days of this year, the government will borrow all the money it spends – at a rate of more than $10 billion a day. The only good news is that last year the government ran out of money 16 days earlier.