US deficit at $86 bn in December, 2011
January 13th, 2012 - 3:33 pm ICT by IANSWashington, Jan 13 (IANS) The US has reported a budgetary deficit of nearly $86 billion in December, 2011.
This takes the deficit in the first three months of the 2011-12 fiscal to $321.7 billion against $368.9 billion in the same period a year earlier, Xinhua reported.
Government revenues were at $239.9 billion in December and outlays at $325.9 billion.
The US registered a $1.299 trillion deficit for the previous fiscal ended September, 2011 — evidence of the mounting budgetary pressure facing the world’s largest economy.
The Obama administration said Thursday that it has urged Congress to raise the federal government’s borrowing limit since this was expected to come within $100 billion of the current $15.2 trillion debt ceiling.
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Tags: bn, budgetary deficit, congress, debt ceiling, economy, facing the world, federal government, first three months, government revenues, outlays, trillion, xinhua