U.S. deficit worse than Whitehouse te...

U.S. deficit worse than Whitehouse tells Americans. Surprise !

Posted in the Denver Forum

“Truth, Justice”

Since: Jun 12

And the American Way

#1 Nov 13, 2012
U.S. Budget Deficit Widens as Fiscal Cliff Looms

Published November 13, 2012

Reuters

The U.S. 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.

Following President Barack Obama's election to a second term last week, the debate in Washington has quickly shifted to the combination of expiring tax breaks and new spending reductions known as the ``fiscal cliff.''

Lawmakers involved in the debate gathered in Washington on Tuesday for the first time since the elections, setting the stage for a week of trial balloons and rhetorical repositioning.

The U.S. Congress has just returned from a break after the Nov. 6 elections. Topping the agenda is the year-end convergence of urgent tax and spending issues that, if mishandled, could plunge the economy into another recession.

The United States had reported a budget surplus for September, the final month of the 2012 fiscal year, but the tiny bump in revenues did not prevent the country's deficit from exceeding $1 trillion for the fourth year in a row.

The 2012 budget gap was $1.089 trillion, smaller than last year's deficit of $1.297 trillion largely because of higher corporate income tax receipts and less spending.

Read more: http://www.foxbusiness.com/government/2012/11...
Busty Miss

Denver, CO

#2 Nov 14, 2012
This from an idiot who still doesn't realize whitehouse is not one word yet expects people to believe the nonsense he posts.

LOL
Busty Miss

Denver, CO

#4 Nov 14, 2012
FOX knews wrote:
<quoted text>Still dont have anything relevant or an intelligent comment on the article huh ? Spelling mistakes arent an issue.Your lack of anything relevant to say just says you have nothing relevant in your head..But Im sure somewhere you will complain about "Hes not letting me comment"..lol..Typical obama voter..Stick to the topic or keep it to yourself.
US could be on path to fifth straight $1 trillion deficit after government runs $120 billion October deficit
The federal government started the 2013 budget year with a $120 billion deficit, an indication that the nation is on a path to its fifth straight $1 trillion-plus deficit.
Another soaring deficit puts added pressure on President Barack Obama and Congress to seek a budget deal in the coming weeks.
The Treasury Department said Tuesday that the October deficit -- the gap between the government's tax revenue and its spending -- was 22 percent higher than the same month last year.
Read more: http://www.foxnews.com/politics/2012/11/13/us...
Hey, guess what? You are so full of hot air, New Mexico is considering having you fill the balloons for the hot air balloon race.
Busty Miss

Denver, CO

#5 Nov 14, 2012
By the way, chicken little, the sky is NOT falling.

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