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Politics : The Obama - Clinton Disaster
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To: Wayners who wrote (29118)4/13/2010 3:24:09 PM
From: DuckTapeSunroof  Read Replies (1) of 103300
 
Official US deficit numbers just released (Monday).

We have tons of heavy lifting ahead of us yet to get out of this hole that we have dug ourselves into over many years --- not to mention emerging from the *worst* (longest and deepest) Recession in nearly 80 years --- but this much is a sign of light:

The federal deficit is running significantly lower than it did last year, with the budget gap for the first half of fiscal 2010 some 8% lower than the first half of fiscal 2009.

Officials attributed the results to higher tax revenue and to lower spending than projected on bailing out the financial system.

If the trend continues for the rest of the year, it would mean the annual deficit would be $1.3 trillion -- about $300 billion less than the administration's projection just two months ago for 2010...
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