The Deficit in the U.S.

By: Jesse Gillman

Source: NYTimes, Reuters

         

                                      Headline: U.S. Budget Gap Hits $1.1 trillion

                   Into- Washington D.C. – The United States is tuning a $1.1trillion budget deficit to date in the current fiscal year, the treasury Department, said Wednesday, as lawmakers to seek extra cuts in public spending to rein in debt.

                   Body: The budget deficit ten month into the government’s fiscal year was $69 billion lower than the same time a year earlier, said the Treasury Department.

          “The government continues to run significant deficits one reason S&P took its rating actions’’, said Thomas Simon’s money market economist with Jefferies and co in New York. The U.S. budget deficit to reach $1.4 trillion according to the congressional budget office. In July, the government posted of a budget defect of $129 billion the 134^th consecutive mouth of budget shortfalls.

          A special committee of Democratic and GOP lawmakers have been charged with finding $1.5 trillion in budget savings over the next decade.

                   Conclusion: I think if our budget system was not so confuting than it would have a much different affect on feeling of the American people about the economic.