All Commentary
Thursday, August 25, 2011

2011 Deficit Expected to Come in at $1.3 Trillion

“The government will run another $1.3 trillion deficit in fiscal 2011, Congress‘ chief scorekeeper said Wednesday in a report that highlighted both an economy that will struggle over the next few years and a federal budget showing massive red ink for the foreseeable future. The deficit marks the third-largest shortfall in history, and the third straight $1 trillion gap under President Obama, though next year’s deficit is projected to dip just under that mark, according to the Congressional Budget Office.” (Washington Times)

Who expects an upward revision later?

FEE Timely Classic
“Deficit Spending and Future Generations: Not What You Might Think” by Roy Cordato