CBO: $777 billion deficit for first six months of fiscal year - The Hill's On The Money: The federal government racked up a deficit of $777 billion in the first half of fiscal 2012, the Congressional Budget Office said in an estimate released Friday.
The shortfall is the latest sign that the government is well on its way to compiling at least a $1 trillion deficit for the fourth consecutive year.
But as CBO noted on Friday, the deficit is also a $53 billion reduction from the same period in fiscal 2011.
The budget scorekeeper said that most of the $46 billion jump in revenues — a 4.5 percent increase — was due to corporations making higher tax payments or receiving a smaller refund.
See original work for more on this and other stories.
No comments:
Post a Comment
Spamming will be removed.
Due to spamming. Comments need to be moderated. Your post will appear after moderated regardless of your views as long as they are not abusive in nature. Consistent abusive posters will not be viewed but deleted.
Note: Only a member of this blog may post a comment.