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Posts Tagged ‘federal budget deficit’

What are we doing?  Even with over a trillion and a half of printed dollars from the Fed and we are still running a deficit of $1.29 trillion?  We are digging ourselves a very deep hole…

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Government to report on $1 trillion-plus deficit

WASHINGTON – The Obama administration is set to report Friday that the federal budget deficit exceeded $1 trillion for the second straight year, providing critics of government spending with fresh ammunition ahead of the midterm congressional elections.

The Congressional Budget Office is projecting that the deficit for the 2010 budget year that ended Sept. 30 will total $1.29 trillion. That’s down by $125 billion from the $1.4 trillion in 2009 – the highest deficit on record.

Soaring deficits have become a problem for Democrats in an election year focused on the weak economy.

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