Treasury Revises Budget Deficit
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The US budget deficit expanded to a record $413 billion in the 2004 fiscal year, according to revised numbers, the Treasury Department said Thursday.
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The U.S. government posted a   larger-than-expected $64.61 billion federal budget deficit in   August as outlays for the month were at a record high, a   Treasury Department report showed on Wednesday.
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Over the next 10 years, the nation&#39;s cumulative budget deficit will soar to $2.3 trillion, the CBO projected. And if President Bush succeeds in making his tax cuts permanent, as he&#39;s vowed to do if re-elected, the 10-year deficit could top $4 trillion.
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Additional war spending this year will push the federal deficit to a record $427 billion for fiscal 2005, effectively thwarting President Bush's pledge to begin stanching the flow of government red ink, according to new administration budget forecasts unveiled Tuesday.
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The US government budget deficit will be a record 422 billion dollars for the fiscal year to September 30, the Congressional Budget Office said.
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The US budget gap expanded to $412.55 billion in fiscal 2004, marking the Bush administration&#39;s second-straight record deficit, the Treasury Department said on Thursday.
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The record $3.1 trillion budget proposed by President Bush on Monday would produce eyepopping federal deficits, despite his attempts to impose politically wrenching curbs on Medicare and eliminate scores of popular domestic programs.
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Gov. Arnold Schwarzenegger unveiled a &#36;111.7 billion no-new-taxes budget Monday and proposed to close an &#36;8.1 deficit by borrowing money and holding the line on spending growth throughout state government.
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The TreasuryÂs schedule of financing this week includes todayÂs regular weekly auction of new three- and six-month bills and an auction of four-week bills tomorrow.
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The federal deficit of the US government hit a record high of 436.9 billion US dollars in the first 11 months of fiscal year of 2004 which will end in this month, the Treasury Department reported on Monday.
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Treasury prices fell Wednesday after a new retail sales report showed an unexpected increase in consumer spending for January after the dismal holiday season.
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The deficit jumped by 9.3 percent, to $63.1 billion, the government said, reflecting record oil imports. The deficit with China declined while the weak dollar lifted exports to a record high.
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Gov. Arnold Schwarzenegger unveiled a &#36;111.7 billion no-new-taxes budget Monday and proposed to close an &#36;8.1 billion deficit by borrowing money and holding the line on spending growth throughout state government.
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LONDON : Britain&#39;s budget deficit ballooned last month, when the public sector net cash requirement (PSNCR) rose to 10.8 billion pounds (15.
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WASHINGTON -- Congress on Thursday cleared for President Bush must-pass bills to prevent a government shutdown and extend the Treasury Department's ability to finance the budget deficit.
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WASHINGTON -- The nation's budget deficit will drop to $205 billion in the fiscal year that ends in September, less than half of what it was at its peak in 2004, according to new White House estimates.
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The US budget deficit is set to hit a worse-than-expected $368bn this year, excluding war costs.