Welcome Guest
( Log In | Register )
The time is now 8:56 pm
You last visited August 18, 2017, 7:49 pm
All times shown are
Eastern Time (GMT-5:00)

Obama on Track for Fourth Straight Year of Trillion ...

Published:

Last Edited: July 13, 2012, 9:56 pm

...Dollar Deficit

Obama on track for fourth straight year if trillion-dollar deficit

The U.S. budget deficit grew by nearly $60 billion in June, remaining on track to exceed $1 trillion for the fourth straight year.

Through the first nine months of the budget year, the federal deficit totaled $904.2 billion, the Treasury Department reported Thursday.

President Barack Obama is almost certain to face re-election having run trillion-dollar-plus deficits in each of his first four years in office. That would likely benefit his opponent, GOP presumptive nominee Mitt Romney.

Obama and congressional Republicans remain at odds over how to lower the deficit. Unless their disagreement is broken, a series of tax increases and spending cuts could kick in next year. Economists warn that could dramatically slow an already weak U.S. economy and even tip it back into a recession.

Read more on Newsmax.com: Obama on Track for Fourth Straight Year of Trillion-Dollar Deficit

Entry #224

Comments

This Blog entry currently has no comments.

You must be a Lottery Post member to post comments to a Blog.

Register for a FREE membership, or if you're already a member please Log In.