October 2012 Deficit Bigger Than October 2011

October 2012 Deficit Bigger Than October 2011

The October 2012 U.S. budget deficit has increased compared to the budget deficit of October 2011. In October 2011, we saw a deficit of $98.5 billion and October 2012 shows a $120 billion deficit according to the Treasury Department.  This number comes more than 2000 days since Senate Democrats introduced a budget.

To put this into perspective, let's look at President Obama's most recent argument for raising taxes on those making more than $250,000 per year.

Democrats countered that the one-year savings from ending the cuts for the rich may not be much, but that...