Federal budget gap tops $1 trillion through June

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investorzzo's picture
investorzzo
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Joined: Nov 7 2008
Posts: 1182
Federal budget gap tops $1 trillion through June

WASHINGTON (AP) -- The federal deficit has topped $1 trillion with three months still to go in the budget year, showing the lasting impact of the recession on the government's finances.

In its monthly budget report, the Treasury Department said Tuesday that through the first nine months of this budget year, the deficit totals $1 trillion. That's down 7.6 percent from the $1.09 trillion deficit run up during the same period a year ago.

http://finance.yahoo.com/news/Federal-budget-gap-tops-1-apf-3046787518.h...

Davos's picture
Davos
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Joined: Sep 17 2008
Posts: 3620
Re: Federal budget gap tops $1 trillion through June

"The debt is like a cancer," Democrat Erskine Bowles told the governors. "It is going to destroy the country from within."

Really?????? We needed a blue ribbon committee to figure this one out. 

Boy Skippy is something else. I suppose Skippy thinks those cooked books Bill did claiming to have a surplus were more realistic than Enron's.

Typical Morgan Stanley pos.

ashvinp's picture
ashvinp
Status: Gold Member (Offline)
Joined: Jan 20 2010
Posts: 412
Re: Federal budget gap tops $1 trillion through June

My question is what's up with $1.5T our government has borrowed above and beyond the budget over the last 4 years?? - http://www.zerohedge.com/article/june-deficit-fails-account-142-billion-excess-june-borrowings-us-has-issued-15-trillion-exce

Off balance sheet defense spending? I don't know what it is, but it needs to be a part of the reported debt and deficits.

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