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’s reelection campaign.

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

Full article here ^[1]