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U.S. Deficit to Reach U.S. $ 1.1 Trillion

U.S. Deficit to Reach U.S. $ 1.1 Trillion

New York - The U.S. government's budget deficit reached U.S. $ 1 trillion more. However, economic conditions began to improve by narrowing the gap of U.S. $ 207 billion compared to last year.

The U.S. Treasury Department said the deficit in fiscal year 2012 reached U.S. $ 1.1 trillion. For tax receipts up 6.4 percent from last year reached U.S. $ 2.4 trillion more. This contributes to deficit reduction from last year.

The other good news is, there was an increase in income as more Americans get jobs and supplement their income. The private sector also contributes in tax revenue in the know then.

For lower government spending 1.7 percent to U.S. $ 3.5 trillion. This decline reflects the easing of defense expenditure because it does not send the troops in Iraq.

The deficit in 2010 and 2011 was slightly lower than the deficit in 2009. This is due to the gradual economic activity has provided income tax. Although the U.S. still bear the deficit exceeded U.S. $ 1 trillion.

For years, U.S. government debt reaching $ 16 trillion more. This burden has been the theme of debates in Congress that the expenditure and taxation in the spotlight. Because no one expected the economy just moved a little to the debt of the moment.


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