2012, Billion | featured news

The economy may have remained sluggish last year but Americans refused to scrimp on their pets, with animal lovers spending upwards of $53 billion on food, veterinary care, kennels and other services in 2012. That's up 5 percent from 2011, when spending first broke the $50 billion barrier, says the American Pet Products Association, a trade group based in Greenwich, Conn. And APPA President and CEO Bob Vetere predicts another 4 percent gain this year.

The budget deficit rose in October, the first month of fiscal year 2013, as looming negotiations over expiring tax cuts and imminent spending reductions dominated the post-election political landscape.

The U.S. trade deficit grew to $42 billion in July, widened by fewer exports to Europe, India and Brazil that offset a steep decline in oil imports.

Forget the struggling economy. There's one U.S. industry -- Big Politics -- that is looking ahead to a record year in 2012.