Friday, October 5, 2012

$1.1 Trillion Estimated US Government Deficit For FY 2012

From CBO, "The Federal Budget Deficit Totaled $1.1 Trillion in 2012, CBO Estimates:"
The federal government’s fiscal year 2012 has come to a close, and CBO estimates—in its latest Monthly Budget Review—that the federal budget deficit for the year was about $1.1 trillion, or 7.0 percent of gross domestic product (GDP). Although the deficit is approximately $200 billion lower than the shortfall recorded in 2011, fiscal year 2012 marks the fourth year in a row with a deficit of more than $1 trillion.

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