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Budget deficit on track to exceed $1 trillion
TweetWASHINGTON (AP) — The government is taking in more tax revenues as the economy improves, but not nearly enough to keep the federal budget deficit from exceeding $1 trillion for a third straight year.
The Treasury Department says the deficit for April dropped to $40.5 billion, half the imbalance from the same month last year. Tax receipts were up 45 percent this April compared to a year ago.
Still, the deficit is on pace to grow to $1.4 trillion in this budget year, nearly matching the record $1.41 trillion deficit hit in 2009. That's putting pressure on Congress and President Barack Obama to agree on a long-term plan to cut the deficit.
But the parties disagree over whether that should be done through spending cuts, tax increases, or some mix of both.
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Comments
UNBELIEVABLE!!!...
"The government is taking in more tax revenues as the economy improves, but not nearly enough to keep the federal budget deficit from exceeding $1 trillion for a third straight year."
STOP THE SPENDING!!!
Make sure that Obama is a one-termer before he destroys the country.
MMMM think it maybe the Bush war . at 1 billion a week . NO NO it is the sick poor people FOOLS.
Obama and Dems went on spending sprees his first two years, no surprises here. He's going to hold the top two budget deficit's in history.
"Congressional Democrats overwhelmingly embraced President Obama’s ambitious and expensive agenda for the nation yesterday, endorsing a $3.5 trillion spending plan that sets the stage for the president to pursue his most far-reaching priorities."
http://hotair.com/archives/2009/04/03...