US government records $904.2B deficit through June

[Omaha Steve]

Source: AP-Excite

By MARTIN CRUTSINGER

WASHINGTON (AP) - The U.S. budget deficit grew by nearly $60 billion in June, remaining on track to exceed $1 trillion for the fourth straight year.

Through the first nine months of the budget year, the federal deficit totaled $904.2 billion, the Treasury Department reported Thursday.

President Barack Obama is almost certain to face re-election having run trillion-dollar-plus deficits in each his first four years in office. That would likely benefit his opponent, GOP presumptive nominee Mitt Romney.

Obama and congressional Republicans remain at odds over how to lower the deficit. Unless their disagreement is broken, a series of tax increases and spending cuts could kick in next year. Economists warn that could dramatically slow an already weak U.S. economy and even tip it back into a recession.

FULL story at link.



Read more: http://apnews.excite.com/article/20120712/D9VVIUFO0.html

[AnotherMcIntosh]

1. What we need is another job-transferring "free-trade" agreement.

/sarcasm off

[fascisthunter]

2. but hey, lets keep giving greedy people their tax breaks

billionaire parasites.

[judesedit]

3. That's why people making over $250,000. have to pay the normal tax rate of Clinton's terms when we

had a surplus. Remember what that is folks??? The amount under $250,000 will stay low. It's the amount over that that will go back to normal....which is approx. 4% more than what they are paying now. Remember, they don't pay social security or any other tax over $250,000, so if they are million or billionaires, they are basically paying hardly a thing compared to the rest of us. John McCain collects some outrageous amount from social security even though he didn't have to pay in on his income over $250,000. and being over 70 he collects and makes as much as he wants. Can you imagine? These hypocrites take that kind of money from the government when they are already million/billionaires? How low can they go? This doesn't include his veteran's benefits. We won't go there as I am from a military family and wouldn't want to show them any disrespect ever. To me, the GOP and any wealthy "American" that doesn't want to pay their share of taxes is no more than an UN-patriotic sleazeball. Boot them out of OUR government altogether. And if they are convicted of a crime or crimes.....NO retirement for them. We pay for that, too. While your kids dying of cancer, their animals are eating out of golden bowls. Wake up people! Turn off FOX NOISE!

[judesedit]

4. When I say hardly a thing..I mean as a percentage of what they have to live on. Thank you.

And they laugh all the way to the bank.....louder if it's in another country.