The budget deficit rose in October, the first month of fiscal year 2013, as looming negotiations over expiring tax cuts and imminent spending reductions dominated the post-election political landscape.Please bookmark!
The Treasury said on Tuesday the October deficit was $120 billion, larger than economist forecasts for a $114 billion gap and up from $98 billion in October of 2011.
Growth in expenditures outpaced rising receipts, deepening the deficit. Outlays grew to $304 billion from around $262 billion in the same month last year while receipts rose to $184 billion from $163 billion.
Following President Barack Obama's election to a second term last week, the debate in Washington has quickly shifted to the combination of expiring tax breaks and new spending reductions known as the "fiscal cliff."
PUNDIT PRESS HAS MOVED
Today marks a very exciting day as we launch the new and improved Pundit Press. We have joined forces with High Plains Pundit to design a new website to provide our readers with even more news and information.
Here is the link that will direct you to the new Pundit Press website: http://thepunditpress.com/
This new partnership will also include all 3 of Danny R. Butcher's (aka High Plains Pundit) internet radio shows, Nightly Review, The Danny R. Butcher Show, and Sunday Night Sports Talk.
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