Deficit Hits $1.3 Trillion in July

by Marilou Moursund on August 10, 2009

in Credit Crisis,Debt,Fiscal Policy

Just like companies like to release bad news on Fridays in order to get less attention, Secretary Geithner on Friday to raise the debt limit from its current $12.1 trillion amount.  He already had an inkling of the news that was coming Sunday from the CBO about the deficit reaching $1.3 trillion due to falling tax receipts and increased government spending.

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