red states rule
06-11-2011, 03:03 PM
Is this another reason to support Obama for another four year term? Obama is setting records I never thought possible
Still, through eight months of the 2011 fiscal year the nation is facing its third straight $1 trillion-plus deficit -- totaling $927.4 billion so far compared with $935.6 billion during the same period in 2010, about $8 billion less, according to the report.
Vice President Joseph Biden and congressional leaders will meet several times next week to discuss a way to tackle the burdensome debt and increase the $14.3 trillion debt limit before Aug. 2, when the Treasury says the U.S will default.
Total receipts for the fiscal year are $1.5 trillion, about 10 percent higher than last year, with outlays standing at $2.4 trillion, about 6 percent above last year's levels.
So far this year, individual income tax payments were up 28 percent to $701.8 billion, while corporate tax receipts increased 5 percent.
http://thehill.com/blogs/on-the-money/budget/165851-federal-budget-deficit-on-track-to-eclipse-1-trillion-for-the-third-straight-year
Still, through eight months of the 2011 fiscal year the nation is facing its third straight $1 trillion-plus deficit -- totaling $927.4 billion so far compared with $935.6 billion during the same period in 2010, about $8 billion less, according to the report.
Vice President Joseph Biden and congressional leaders will meet several times next week to discuss a way to tackle the burdensome debt and increase the $14.3 trillion debt limit before Aug. 2, when the Treasury says the U.S will default.
Total receipts for the fiscal year are $1.5 trillion, about 10 percent higher than last year, with outlays standing at $2.4 trillion, about 6 percent above last year's levels.
So far this year, individual income tax payments were up 28 percent to $701.8 billion, while corporate tax receipts increased 5 percent.
http://thehill.com/blogs/on-the-money/budget/165851-federal-budget-deficit-on-track-to-eclipse-1-trillion-for-the-third-straight-year