Interesting how all of this information is coming out after the election. From Reuters: "The Treasury
said on Tuesday the October deficit was $120 billion, larger than
economist forecasts for a $114 billion gap and up from $98 billion in
October of 2011. Growth in expenditures outpaced rising receipts,
deepening the deficit. Outlays grew to $304 billion from around $262
billion in the same month last year while receipts rose to $184 billion
from $163 billion."
The article continues: "The United States
had reported a budget surplus for September, the final month of the 2012
fiscal year, but the tiny bump in revenues did not prevent the
country's deficit from exceeding $1 trillion for the fourth year in a
row. The 2012 budget gap
was $1.089 trillion, smaller than last year's deficit of $1.297
trillion largely because of higher corporate income tax receipts and
less spending."
Budget Deficit Rises To $120 Billion In October
