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US Budget Deficit Exploded in October (1st month of FY2013)

 
Anonymous Coward
User ID: 23406708
United States
11/13/2012 06:45 PM
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US Budget Deficit Exploded in October (1st month of FY2013)
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.

[link to my.chicagotribune.com]

$120B/month is $1.44 Trillion/year....

According to CBO, the FY 2012 deficit was $1.1 Trillion....

So, we're looking at 30% increase in deficit....
Anonymous Coward
User ID: 26730926
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11/13/2012 08:11 PM
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Re: US Budget Deficit Exploded in October (1st month of FY2013)
suggest pin just for the photo of OP....

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