Friday, October 14, 2011

Treasury Announces 2011 Deficit is Second Highest in History

The U.S budget deficit for fiscal year 2011 is $1.299 trillion, the second largest shortfall in history.

According to Erik Wasson, the U.S. only ran a larger deficit for the 2009 fiscal year, which was during the heart of the financial crisis, when revenues collapsed. The deficit that year was $1.412 trillion.

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