WASHINGTON (Reuters) - The United States is on track for a fourth straight year with a $1 trillion-plus budget deficit as a sluggish economy holds down corporate tax revenues, congressional forecasters said on Tuesday, but they warned that extension of payroll tax cuts would swell the gap even more.
The non-partisan Congressional Budget Office said the fiscal 2012 deficit would rise to $1.079 trillion from its previous estimate of $973 billion made last August. The U.S. posted $1.3 trillion deficits in each of the past two years after a record $1.4 trillion deficit in fiscal 2009, President Barack Obama's first year in office.
(Reporting By David Lawder; Editing by Neil Stempleman)
Ruger Jumps Into Self Defense Ammo Market With Radical Bullet Design - Bearing Arms - Ammunition, ARX, Polycase, Ruger
Christopher Columbus’ Objective: FREE Trade Routes | Human Events
- What Is Your U.S. Income Percentile Ranking?
Washington Post: The rich enjoy better breakfast sandwiches
Politico: Hillary Clinton is Screwed | RedState
Thomas Sowell - The 'Gun Control' Farce
University of Toronto unexpectedly finds problems with letting boys in the girls’ showers