Wed, 22 Aug 2012 18:43:50 GMT
CBO projects a $1.1 trillion budget deficit in 2012
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.