Government on Pace to Run Budget Deficit Below $1T

By: Martin Crutsinger, Associated Press
By: Martin Crutsinger, Associated Press

Washington, D.C. (AP) - The federal government is on pace to run a
deficit below $1 trillion for the first time in four years, modest
progress in the face of intense debate in Washington over spending.

The Treasury Department says the deficit was $137 billion in
October. That brings the total for the first two month of the
budget year to $236 billion.

While high by historical standards, the deficit is $55 billion
lower than the same two months last year. The government is also on
pace to end the year $973 billion in the red, according to the
Congressional Budget Office.

Still, many expect that to change this month if Congress extends
a Social Security tax cut and extended employment benefits. Both
expire at the end of this month.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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  • by Gerry Location: Tallahassee on Dec 13, 2011 at 03:31 PM
    This is great. Is this attributable to austerity? How did austerity work out for the Brits? High unemployment and no growth. That's what will happen here. Unemployment will rise and growth will slow.
  • by detfan Location: Tallahassee on Dec 13, 2011 at 04:00 AM
    Thank you Republicans for holding the line in federal spending. Can't wait for Republicans to take control so federal spendinng can really be reduced, corporate taxes can be set at internationally competivitive rates, and businesses get regulatory relief, and long term federal tax policy, allowing them to finally start hiring without fear of new higher costs to run a business.
    • reply
      by conservative democrat on Dec 13, 2011 at 05:30 AM in reply to detfan
      and the middle class has to pay more taxes, when the average american makes minimum wage while cooperate c.e.o. make millions, you must be a tea party republican all for the rich and cooperations !!!
      • reply
        by Anonymous on Dec 13, 2011 at 07:07 AM in reply to conservative democrat
        Where do you get that the tea party isn't pro middle class?? CNN??? The 1% are all liberals.
  • by Reagan Republican on Dec 12, 2011 at 10:13 PM
    This is just fiction..... I would be exhausted trying to correct all the factual errors starting with the just the caption of 3 years not 4 years of Trillion dollar fy deficits. The media does think the voters are just stupid and that we don't notice A LOT of revenue and borrowed debt is going to Washington and then not helping our country as a whole.
    • reply
      by Anonymous on Dec 13, 2011 at 07:09 AM in reply to Reagan Republican
      The media is correct in thinking that the voters are stupid. Some of the comments right here on this website are evidence of that fact. The average voter listens to MSNBC, ABC, CBS, NPR, etc, (and yes, even Fox News)and believes whatever they hear. They have no idea how government works, everything is based on feelings and emotions, and their vote, will be based on the candidate's physical appearance. Our country is truly, and irreversibly, headed for disaster.
  • by Anonymous on Dec 12, 2011 at 06:52 PM
    This is almost a Trillion too much.
  • by Anonymous on Dec 12, 2011 at 06:09 PM
    Yea, when the sweetheart deals, kickbacks, reductions on corporate welfare and forcing members of Congress to stop or reduce their "earmark spending" it did reduce the budget deficit but also caused the unemployment to stay a problem because state and federal lawmakers will NOT tax those who have the most to contribute. Don`t tell me they need that money to start jobs with 14 million in the nation STILL without decent living wage jobs.
  • by Big Dog on Dec 12, 2011 at 05:41 PM
    Yea man, this story is total BS. I guess it is a good indicator of how dumb THEY think WE are. Party on...
  • by Moderate Majority Location: USA on Dec 12, 2011 at 04:57 PM
    Lower the debt even more by raising some revenue and cut spending. Dah ...oh yeah, if you have a brain, let temporary tax breaks for those who don't need a break expire. Don't raise taxes on top earners. Just let the temporary break expire. We prospered in the 1990's and we can do it again.
  • by dog Location: gone on Dec 12, 2011 at 01:51 PM
    I am DIZZY from the SPIN that was put on this Story.
    • reply
      by Anonymous on Dec 12, 2011 at 06:44 PM in reply to dog
      i fell down too
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