Tags: US | Budget | Deficit

Federal Deficit Tops $1 Trillion Through June

Tuesday, 13 Jul 2010 02:18 PM

 

Share:
A    A   |
   Email Us   |
   Print   |
   Forward Article  |
  Copy Shortlink

The federal deficit has topped $1 trillion with three months still to go in the current budget year, showing the continued impact of a deep recession on the government's finances.

The Treasury Department says that through the first nine months of this budget year, the deficit totals $1 trillion, down by 7.6 percent from the $1.09 trillion in red ink run up during the same period a year ago.

The June deficit totaled $68.4 billion, the second highest June deficit on record, but down from the all-time high of $94.3 billion in June 2009, a month when the government was spending heavily to stabilize the financial system and jump-start economic growth.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.

WASHINGTON (AP) — The federal deficit has topped $1 trillion with three months still to go in the current budget year, showing the continued impact of a deep recession on the government's finances.

The Treasury Department says that through the first nine months of this budget year, the deficit totals $1 trillion, down by 7.6 percent from the $1.09 trillion in red ink run up during the same period a year ago.

The June deficit totaled $68.4 billion, the second highest June deficit on record, but down from the all-time high of $94.3 billion in June 2009, a month when the government was spending heavily to stabilize the financial and jump-start economic growth.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
   Email Us   |
   Print   |
   Forward Article  |
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

NY Gov. Cuomo Signs Law to Rig Electoral College

Wednesday, 16 Apr 2014 22:54 PM

The campaign to effectively end the Electoral College's role in presidential elections has received an additional boost  . . .

Obama: Further Sanctions Against Russia Possible

Wednesday, 16 Apr 2014 22:17 PM

President Barack Obama said Wednesday that Russia can expect further sanctions if it steps up support for separatists in . . .

Government Causes Generic Drug Shortage, Critics Say

Wednesday, 16 Apr 2014 16:49 PM

A proposed Food and Drug Administration rule on product labeling will exacerbate shortages of generic drugs already resu . . .

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved