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Geithner defends Obama as deficit again tops $1 trillion

Posted By admin On October 13, 2012 @ 3:28 am In Money Watch | Comments Disabled

Erik Wasson
The Hill [1]
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 Obama‚Äôs reelection campaign.

In a joint statement with acting Budget Director Jeff Zients, Geithner sought to blame Congress for the deficit.

Full article here [1]

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[1] The Hill: http://thehill.com/blogs/on-the-money/budget/261795-geithner-defends-obama-as-deficit-officially-tops-1-trillion-again

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