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Breaking News Forum Obama Offers Plan to Cut Deficit by Over $3 Trillion at News Forum - New York Times - Found 37 minutes ago WASHINGTON President Obama will unveil a plan on Monday that uses entitlement ...

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Old 09-19-2011, 05:02 PM   #1
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Default Obama Offers Plan to Cut Deficit by Over $3 Trillion

New York Times - Found 37 minutes ago
WASHINGTON President Obama will unveil a plan on Monday that uses entitlement cuts, tax increases and war savings to reduce the federal deficit by more than $3 trillion over the next 10 years, administration officials said. President Obama discussed his deficit plan at the White House on Monday. The ...
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Obama Offers Plan to Cut Deficit by Over $3 Trillion
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Old 03-11-2012, 11:01 PM   #2
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Government records highest-ever monthly deficit
March 08, 2012 | The U.S. government just notched its highest ever monthly deficit, with the red rink running to an estimated $229 billion in February.
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The Congressional Budget Office, in a preliminary analysis, reported that the February 2012 deficit broke last year's monthly record of $223 billion. The office attributed the shortfall in part to a decline in revenue -- mainly because of a $25 billion increase in income tax refunds thanks to disbursement timing issues. According to the CBO, processing delays pushed refund payments that would have been distributed in January off into February. And the additional day in February this year allowed for extra refunds to be distributed during the month that otherwise would have been paid out in March.

The CBO projected that for the first five months of the fiscal year, the federal government is running a $578 billion deficit. The projected deficit this year is once again projected to top $1 trillion. Yet there also was reason for hope on Thursday. Americans' wealth rose 2.1 percent to $58.5 trillion in the October-December quarter, the sharpest gain in a year, the Federal Reserve reported Thursday. Still, it would have to rise an additional 13 percent to return to its pre-recession peak.

Driving the gains were stock portfolios, which surged nearly 10 percent in the fourth quarter. And stocks have since risen further. Since early October, the Standard & Poor's 500 index has jumped 24 percent. Household wealth, or net worth, reflects the value of assets like homes, bank accounts and stocks, minus debts like mortgages and credit cards. It bottomed during the recession at $49 trillion in the first quarter of 2009. It's still well below its pre-recession peak of $66 trillion.

The Fed's quarterly report documents most of the financial transactions that occur in the United States. Greater net worth tends to boost the economy. When people feel wealthier, they typically spend more. Businesses respond by stepping up plans to hire and expand.

Read more: Government Records Highest-ever Monthly Deficit | Fox News
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Old 04-12-2016, 11:39 PM   #3
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March 2016 deficit twice March 2015...

U.S. posts $108 billion budget deficit in March
Tue Apr 12, 2016 - The U.S. government posted a $108 billion budget deficit in March, more than double the amount from the same period last year, the Treasury Department said on Tuesday.
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The government had a deficit of $53 billion in March of 2015, according to the Treasury's monthly budget statement. Analysts polled by Reuters had expected a $104 billion deficit for last month.

Accounting for calendar adjustments, March would have shown a $102 billion deficit compared with an adjusted $89 billion deficit in March 2015.

The current fiscal year-to-date deficit was $461 billion, up 5 percent from a $439 billion deficit this time last year. Receipts last month totaled $228 billion, while outlays stood at $336 billion.

U.S. posts $108 billion budget deficit in March | Reuters
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