Looks like it's going down..
All this while the Average Joe saw taxes go down.
The old adage is true: If you want to live like a Republican..Vote Democrat.
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Email Comments 466 WASHINGTON The Obama administration is set to report Friday that the federal budget deficit exceeded $1 trillion for the second straight year, providing critics of government spending with fresh ammunition ahead of the midterm congressional elections.
The Congressional Budget Office is projecting that the deficit for the 2010 budget year that ended Sept. 30 will total $1.29 trillion. That's down by $125 billion from the $1.4 trillion in 2009 - the highest deficit on record.
Deficit Report: 2010 Federal Budget Deficit Over $1 Trillion
Print Back to story Budget Deficit in U.S. Narrows 13% to $90.5 Billion on Rising Tax Receipts
By Bob Willis - Sep 13, 2010 The U.S. government posted a smaller budget deficit in August compared with the same month last year, helped by rising tax receipts.
The excess of spending over revenue totaled $90.5 billion last month, smaller than the median forecast of economists surveyed by Bloomberg News and down 13 percent from $103.6 billion in August 2009, according to a Treasury Department report issued today in Washington. The gap for the fiscal year that started in October was $1.26 trillion compared with $1.37 trillion last year at the same time.
The economic recovery has helped generate more tax revenue for the Treasury, even as the Congressional Budget Office forecasts the deficit this fiscal year will reach $1.34 trillion, the second-largest on record. The Obama administration faces the challenge of trying to limit the shortfall while stimulating an economy with joblessness close to 10 percent.
Were seeing the revenue coming back, said Scott Brown, chief economist at Raymond James & Associates Inc. in St. Petersburg, Florida.
Budget Deficit in U.S. Narrows 13% to $90.5 Billion on Rising Tax Receipts - Bloomberg
All this while the Average Joe saw taxes go down.
The old adage is true: If you want to live like a Republican..Vote Democrat.