Budget deficit soars to $102.8 billion in July

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Source: AP

Budget deficit soars to $102.8 billion in July
Deficit is nearly triple that of July 2007.

WASHINGTON (AP) -- The government says the federal budget deficit soared in July, pushed higher by economic stimulus payments and $15 billion in outlays to protect depositors at failed banks.

The Treasury Department reported Tuesday that the deficit for July totaled $102.8 billion, nearly triple the $36.4 billion deficit recorded in July 2007.

The deficit beats the $97 billion gap that Wall Street economists had been expecting for July.


Read more: http://money.cnn.com/2008/08/12/news/economy/federal_budget.ap/index.htm

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this is a ONE MONTH deficit.

i believe this exceeds any of carter's ANNUAL deficits.

[whistle]

1. If Bush can double the national debt before he leaves in January

...he'll declare Mission Accomplished Again!

[TomClash]

2. Those Republicans sure know how to handle money! nt

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3. that's the problem. they're "handling" it instead of saving it.

[rasputin1952]

4. Nothing like the party of fiscal responsibility having the WH...

but some of the blame has to go to D's as well, they haven't exactly addressed the problem...:(