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Budget deficit tops $1 trillion for first time

Discussion in 'Market Predictions and Reports' started by godoftrading, Jul 14, 2009.

  1. godoftrading

    godoftrading Private, 1st Class

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    WASHINGTON – Nine months into the fiscal year, the federal deficit has topped $1 trillion for the first time.

    The imbalance is intensifying fears about higher interest rates and inflation, and already pressuring the value of the dollar. There's also concern about trying to reverse the deficit — by reducing government spending or raising taxes — in the midst of a harsh recession.

    The Treasury Department said Monday that the deficit in June totaled $94.3 billion, pushing the total since the budget year started in October to nearly $1.1 trillion.

    http://news.yahoo.com/s/ap/20090713/ap_on_bi_go_ec_fi/us_economy_deficit
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    #1 godoftrading, Jul 14, 2009
    Lasted edited by : Aug 15, 2015

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