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US deficit climbs to 1.3 trillion dollars

Posted By admin On August 7, 2009 @ 9:16 am In Money Watch | Comments Disabled

AFP [1]
Friday, August 7, 2009

WASHINGTON — The US budget deficit reached 1.3 trillion dollars for the current fiscal year in July, official data showed, news set to fuel opposition to US President Barack Obama’s ambitious health care and climate change proposals.

The deficit for the first 10 months of fiscal year 2009, which began October 1, reached 1.3 trillion dollars, close to 880 billion dollars greater than the deficit recorded through July 2008, said the US Congressional Budget Office (CBO).

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US deficit climbs to 1.3 trillion dollars 290509banner [2]

Outlays rose by almost 530 billion dollars, or 21 percent, and revenues fell by more than 350 billion dollars, or 17 percent, compared with the amounts recorded during the same period last year, the non-partisan CBO said.

The new data was likely to stoke Republican opposition to Obama’s plans to remake the US health care system and enact sweeping legislation to battle climate change, as well as fuel criticism of his handling of the economy.

Full story here. [1]


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URLs in this post:

[1] AFP: http://www.google.com/hostednews/afp/article/ALeqM5hAAhDJ_IAwKglPuq8VnzLGW4Rblg

[2] Image: http://www.efoodsdirect.com/ammo-food.html?aid=14&adid=5

[3] US deficit to hit 1.2 trillion dollars: budget office: http://www.prisonplanet.com/us-deficit-to-hit-12-trillion-dollars-budget-office.html

[4] US deficit seen at record 1.845 trillion dlrs: http://www.prisonplanet.com/us-deficit-seen-at-record-1845-trillion-dlrs.html

[5] US budget deficit nears 1 trillion dlrs: Treasury: http://www.prisonplanet.com/us-budget-deficit-nears-1-trillion-dlrs-treasury.html

[6] US budget deficit hits record $1.4 trillion: govt: http://www.prisonplanet.com/us-budget-deficit-hits-record-1-4-trillion-govt.html

[7] Obama Budget Office Forecasts $1.47 Trillion Deficit This Year: http://www.prisonplanet.com/obama-budget-office-forecasts-1-47-trillion-deficit-this-year.html

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