Budget Deficit for October was $120 Billion
by Phantom Ace ( 4 Comments › )
Filed under Business, Economy, Headlines at November 13th, 2012 - 11:16 pm
The Budget deficit for this October was 120 Billion. That’s an increase from last year’s 98 Billion.
WASHINGTON (Reuters) – 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.
None of this matters anyway, since the American people love their man-god Obama.
Tags: Debt, Deficit
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