The US budget deficit rose 22 percent in October from a year ago, to $120.0 billion, as spending outpaced revenues, Treasury Department data released Tuesday showed.
Sheets of US $20 bills are printed at the US Bureau of Engraving in Washington, DC in July 2012. The US budget deficit rose 22 percent in October from a year ago, to $120.0 billion, as spending outpaced revenues, Treasury Department data released Tuesday showed.
Spending jumped 16 percent to $304.3 billion, while revenue rose 13 percent to $184.3 billion last month, the Treasury said.
October, the first month of the federal government's fiscal year, typically runs a deficit.
But the budget gap was far wider than the average analyst estimate of $113.0 billion.
In fiscal 2012 that ended on September 30, the United States trimmed its deficit to $1.1 trillion, or 7.0 percent of gross domestic product, a broad measure of the economy's goods and services activity.
For the current fiscal year the Obama administration's budget is aimed at reducing the deficit to below $1.0 trillion for the first time in five years.
The White House has targeted a gap of $991 billion, or 6.1 percent of GDP.
Bangkok Post online classifieds
Try buying selling goods and properties 24/7 in our classifieds which has high purchasing power local expatriate audience from within Thailand and around the world.
About the author
Writer: AFP News agencyPosition: Agence France-Presse
Article source: http://www.thethailandlinks.com/2012/11/14/us-budget-deficit-jumps-22-in-october/
0 comments:
Post a Comment