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(Reuters)
The massive U.S. budget deficit is the gravest threat facing the economy, topping high unemployment and the risk of inflation or deflation, according to a survey of forecasters released on Monday.
The National Association for Business Economics said its 47-member panel of forecasters increased its estimate for the 2011 federal deficit to $1.4 trillion from $1.1 trillion in its previous survey in November. Get the full story »
The House Budget Committee chairman says Republicans don’t want to see the government shut down in a fight with President Barack Obama over spending priorities.
Wisconsin Republican Paul Ryan also tells ABC’s “Good Morning America” the GOP doesn’t want to “rubber stamp” spending policies it opposes just to keep the government running. Get the full story »
The United States needs to consider a European-style tax on consumption to help tackle the burgeoning U.S. deficit, a member of a presidential deficit panel said on Tuesday. Get the full story »
The United States posted a $140 billion budget deficit last month, the third largest shortfall for any October, Treasury Department data showed Wednesday. Get the full story »
The U.S. posted a $90.53 billion budget deficit in August, Treasury Department data showed Monday.
The August deficit was slightly below the $95 billion expected by economists polled by Reuters, and smaller than the $103.56 billion gap a year earlier.
The department said the gap for fiscal 2010, which ends at the end of this month, was $1.260 trillion, smaller than the $1.371 trillion posted for the first 11 months of fiscal 2009.
