Tags: US | Budget | Deficit

Federal Deficit Tops $1 Trillion Through June

Tuesday, 13 Jul 2010 02:18 PM

 

  Comment  |
   Contact  |
  Print   |
    A   A  
  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 This material may not be published, broadcast, rewritten or redistributed.

  Comment  |
   Contact  |
  Print   |
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Atlanta US Attorney Yates Tapped for Deputy AG

Sunday, 21 Dec 2014 17:46 PM

President Barack Obama is preparing to nominate the top federal prosecutor in Atlanta to the No. 2 position at the Justi . . .

Pataki: Obama to Blame for US Troubles Abroad

Sunday, 21 Dec 2014 16:54 PM

President Barack Obama's "lead-from-behind" strategy is to blame for most of America's problems abroad, former New York  . . .

Variety's Wallenstein: How Obama Took Sony's Crisis From Bad to Worse

Sunday, 21 Dec 2014 15:53 PM

If there are such things as textbooks in the field of crisis management, the Sony Pictures hack might end up in the chap . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

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