December Budget Deficit Sets Record

By: Martin Crutsinger AP Email
By: Martin Crutsinger AP Email

WASHINGTON (AP) - The federal budget deficit hit an all-time high for the month of December, and the red ink for the first three months of the current budget year is rising at a more rapid pace than last year's record clip.

The Treasury Department said Wednesday that the deficit last month totaled $91.85 billion, the largest December deficit on record and a bigger imbalance than the $92 billion that economists had expected.

The massive tide of red ink, reflecting the continued fallout from a deep recession and a severe financial crisis, highlights the challenge facing President Barack Obama as he pledges to get control of runaway deficits.


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
KOLO-TV 4850 Ampere Drive Reno, NV 89502
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 81342537 - kolotv.com/a?a=81342537