Posted by
Defend America on Friday, November 13, 2009 3:38:30 PM
U.S. Posts $176.36 Billion Deficit for October
WASHINGTON
-- The federal government kicked off fiscal year 2010 by posting its
widest-ever October budget deficit, the Treasury Department said
Thursday.
The $176.36 billion gap is more than $20 billion wider than the
shortfall recorded in October 2008, driven up by lower tax receipts,
stimulus-related revenue reductions and consistently high government
outlays.
Treasury's monthly budget statement shows receipts were $135.33
billion in October, down 18% from a year earlier and at the lowest
level since October 2002. Meanwhile, outlays were $311.69 billion, down
3% from a year earlier and at their second-highest monthly level on
record.
The October deficit figure is wider than the Congressional Budget
Office's estimate for a $175 billion deficit in the month and wider
than the $165.9 billion expected by analysts surveyed by Dow Jones
Newswires.
http://online.wsj.com/article/SB125805524231245829.html