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05-16-2011, 08:06 AM
The U.S. budget deficit totaled $871 billion for the first seven months of this fiscal year, significantly above the previous year's pace, the Congressional Budget Office said on Friday. The $871 billion deficit through April was about $70 billion more than the deficit the government incurred during the same period of fiscal 2010, highlighting the severe fiscal stress President Barack Obama and Congress confront. Earlier this year, CBO forecast a $1.4 trillion budget deficit for the entire fiscal year that ends on Sept. 30.
For more information:
http://www.reuters.com/article/2011/05/06/usa-deficit-cbo-idUSN0623817920110506
For more information:
http://www.reuters.com/article/2011/05/06/usa-deficit-cbo-idUSN0623817920110506