FOXNews.com: Debt Tally: Chalk Up Another $1.1T

FOXNews.com FOX News Channel - We Report. You Decide. // via fulltextrssfeed.com

Debt Tally: Chalk Up Another $1.1T Aug 22nd 2012, 15:51 Published August 22, 2012 Associated Press Congress' nonpartisan budget analysts are projecting a $1.1 trillion federal deficit for 2012, the fourth straight year the government's shortfall will exceed $1 trillion.  The Congressional Budget Office also says it expects the economy to continue recovering at only a modest rate the rest of this year, growing at a modest annual rate of 2.25 percent. The slow-moving economy and massive federal deficits are top-flight issues in this year's presidential and congressional campaigns.  The budget office repeated a warning it made earlier this year, saying the long-term fiscal outlook is uncertain. That's because no one knows how President Obama and Congress will resolve their standoff over extending expiring tax cuts for the rich and over sweeping spending cuts that will be triggered in January unless Congress blocks them. Related Interactive Full Text: CBO Budget and Economic Outlook Chart Book: CBO Budget and Economic Outlook

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions