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Topic: Budget deficit rises
to $120 billion in October |
Budget deficit rises
to $120 billion in October
Reuters, by Staff
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Original Article
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Posted By:mambo 5, 11/13/2012 4:14:56 PM
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| The budget deficit rose in October, the first month of fiscal year 2013, as looming negotiations over expiring tax cuts and imminent spending reductions dominated the post-election political landscape. The Treasury said on Tuesday the October deficit was $120 billion, larger than economist forecasts for a $114 billion gap and up from $98 billion in October of 2011. Growth in expenditures outpaced rising receipts, deepening the deficit. Outlays grew to $304 billion from around $262 billion in the same month last year while receipts rose to $184 billion from $163 billion.
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Comments:
Would have been nice to have published this......last week!
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Reply 1 - Posted by:
mambo 5, 11/13/2012 4:17:04 PM (No. 9011980)
http://news.yahoo.com/budget-deficit-rises-120-billion-october-190237736--business.html
noticed that the link didn´t work
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Reply 2 - Posted by:
Mr. Know-It-All, 11/13/2012 4:18:02 PM (No. 9011984)
They forgot "unexpectedly".
Get used to this news. When we go into our next recession after the Christmas sugar high fades we will see this regularly. That is if the state propaganda outlets bother to let us ignorant peasants know about it.
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Reply 3 - Posted by:
lancelink1, 11/13/2012 4:22:01 PM (No. 9011997)
According to a new NBC poll it´s the fault of the republican held Congress.
Go figure.
You can´t fix stupid.
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Reply 4 - Posted by:
nimby, 11/13/2012 4:43:24 PM (No. 9012044)
It will still be Bush´ fault
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Reply 5 - Posted by:
nimby, 11/13/2012 4:44:49 PM (No. 9012047)
#3 you are correct. We also should never underestimate the stupidity of American voters.
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Reply 6 - Posted by:
lindamay, 11/13/2012 5:24:58 PM (No. 9012129)
I wonder how much of it was used to get Obama re-elected.
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Reply 7 - Posted by:
bobdog, 11/13/2012 5:51:15 PM (No. 9012193)
Oh, LOOK! Tax receipts increased! However, as usual, expenditures increased more.
And that, children, is why we can´t have nice things.
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Reply 8 - Posted by:
PROUDSABER, 11/13/2012 8:28:21 PM (No. 9012462)
JUst wait for the 2012 taxes paid in.
Obama most likely will start his 5th Priesdental year with low revenues due to everyone playing games (reducing their cost)on their income tax because of Obamacare and the 2013 and out years tax code. That is when the you know what hits the westinghouse (fan). That is when Dumocrats realize there will not be enough money to run the BIG GOVERNEMENT with out the support of the Rich, large and small business and eventually the middle class. That is when we reach the tipping point with higher taxes and little or no growth. Then the joice is to raise taxes to all the people who pay taxes not just the top 2% to support the entitlements
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