Oct 13, 2012
Treasury Secretary Timothy Geithner on Friday defended the White House approach to the deficit as his department officially confirmed a fiscal 2012 deficit of $1.089 trillion.
That figure is $207 billion less than in 2011, and $238 billion less than forecast in February.
The fact the deficit remains above $1 trillion for the fourth year in a row, despite President Obama’s pledge to cut it in half by now, is a major headache for Obamaâ€™s reelection campaign.
In a joint statement with acting Budget Director Jeff Zients, Geithner sought to blame Congress for the deficit.
This article was posted: Saturday, October 13, 2012 at 3:28 am