CBO projects a $1.1 trillion budget deficit in 2012

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Source: Marketwatch
The Congressional Budget Office projected a $1.1 trillion federal budget deficit, or 7.3% of nation's GDP in fiscal 2012,. This is already the fourth straight year when the U.S. government's shortfall will exceed $1 trillion.  Meanwhile, the new estimates are slightly lower than the predictions in March, when analysts expected a $1.2 trillion federal deficit.
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Wed, 22 Aug 2012 18:54:52 GMT

Gold extended gains on Wednesday

On Wednesday, August 22, gold futures edged higher, and were trading near a three-month peak, as Greeks started negotiations with euro-zone financial ministers and creditors.  Bullion inched 0.1% higher to $1,644.30 per ounce. Other precious metals were mostly higher on Wednesday, with October platinum jumping 1.1%, to $1,524 per ounce, September copper and palladium for the same month adding 0.12% and 0.78% respectively. In the

Wed, 22 Aug 2012 17:48:51 GMT

German stocks fall on Japan's trade data

German stocks dropped amid higher-than-expected trade deficit in Japan and before European leaders meetings this week. The DAX Index decreased 1% to 7,017.7, the biggest drop since Aug.2. Meanwhile, the gauge surged 17% from the year's lowest level on June 5 amid Mario Draghi's pledge to sustain the euro.

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