Deficit Rose In February, On Pace To Top $1T Again

By: AP
By: AP

WASHINGTON (AP) -- The U.S. federal deficit was slightly smaller through the first five months of the budget year than the previous year. Still, the imbalance is on pace to exceed $1 trillion for the fourth straight year, a troubling sign for President Barack Obama's re-election prospects.

The Treasury Department says last month's budget deficit was $232 billion. The imbalance for the first five months of the budget year grew to $581 billion, or 9 percent lower than the same period in fiscal 2011.

The Obama administration expects the deficit will reach $1.3 trillion when the budget year ends on Sept. 30. That would nearly match last year's imbalance. The government ran a record deficit of $1.41 trillion in 2009 and a $1.29 trillion gap in 2010.

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  • by bad managers on Mar 12, 2012 at 10:28 PM
    Fire those white house fools,they couldnt hold a management position in a real company, would go belly up and would have the nerve to ask for a govt bailout.
  • by bron on Mar 12, 2012 at 02:02 PM
    Obviously, many don't understand and/or don't care.
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