WASHINGTON (AP) -- The U.S. federal budget deficit grew more slowly in March, keeping the annual spending shortfall on pace to finish below $1 trillion for the first time in five years.
The Treasury Department says the deficit grew by $106.5 billion in March, well below the $203.5 billion added in February.
Through the first six months of the year, the deficit has grown to $600 billion. That's smaller than last year's six-month pace of $779 billion in 2012. The budget year began on Oct. 1.
The Congressional Budget Office projects the annual deficit will be $845 billion this year. The fiscal picture is benefiting from higher taxes and lower expected costs from the 2008 financial bailouts.
KKTV firmly believes in freedom of speech for all and we are happy to provide this forum for the community to share opinions and facts. We ask that commenters keep it clean, keep it truthful, stay on topic and be responsible. Comments left here do not necessarily represent the viewpoint of KKTV 11 News.
If you believe that any of the comments on our site are inappropriate or offensive, please tell us by clicking “Report Abuse” and answering the questions that follow. We will review any reported comments promptly.powered by Disqus