Tuesday, November 13, 2012

Budget Deficit Rises to $120 Billion in October

With Obama still in office and the Democrats still in control of the Senate we have more trillion dollar deficit years to look forward to. It will not take long for the people who voted for this to see what the rest of us were warning them about.


"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 Treasury said on Tuesday the October deficit was $120 billion, larger than economist forecasts for a $114 billion gap and up from $98 billion in October of 2011.
Growth in expenditures outpaced rising receipts, deepening the deficit. Outlays grew to $304 billion from around $262 billion in the same month last year while receipts rose to $184 billion from $163 billion.

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