US budget deficit to hit $1.48 trillion

[Ranga_The_Donga]

WASHINGTON: The US budget deficit this year will jump nearly 40 percent over prior forecasts, mostly due to the mammoth tax-cut package brokered by President Barack Obama and lawmakers last month, the Congressional Budget Office said on Wednesday.

The CBO said the fiscal 2011 deficit will hit $1.48 trillion, up from last August's $1.07 trillion estimate, which was crafted before Bush-era tax rates were extended at a cost of $858 billion over 10 years. "The United States faces daunting economic and budgetary challenges," the CBO said.

The new forecast is part of a semi-annual economic review by the CBO, the nonpartisan budget analyst for Congress. The latest CBO estimates could exacerbate a deeply partisan debate in Congress and with Obama over the best way to tackle the $14 trillion federal debt.

[Deletedid1]

@3$% @3$% @3$% @3$%  ain kuda adi super power................

[The QUEEN]

all that glitters is not gold  sSa_j@il

[Deletedid1]

[quote author=The QUEEN link=topic=147824.msg1709000#msg1709000 date=1296078223]
all that glitters is not gold  sSa_j@il
[/quote]

aite paltinum aa  sCo_hmmthink sCo_hmmthink

[The QUEEN]

[quote author=BENZBABU link=topic=147824.msg1709006#msg1709006 date=1296078299]
aite paltinum aa  sCo_hmmthink sCo_hmmthink
[/quote]no. lol. its just a general phase. and US is not that powerful in economy as it in the past,as of my understanding here, correct me if Im wrong  sHa_high5ing

[Deletedid1]

[quote author=The QUEEN link=topic=147824.msg1709043#msg1709043 date=1296078664]
no. lol. its just a general phase. and US is not that powerful in economy as it in the past,as of my understanding here, correct me if Im wrong  sHa_high5ing
[/quote] @3$% @3$% @3$% @gr33d

[TomandJerry]

sHa_clap4 sHa_clap4 sHa_clap4 sHa_clap4 sHa_clap4

[The QUEEN]

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