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WASHINGTON -- Nine months into the fiscal year, the federal deficit has topped $1 trillion for the first time.
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The imbalance is intensifying fears about higher interest rates and inflation, and already pressuring the value of the dollar. There's also concern about trying to reverse the deficit -- by reducing government spending or raising taxes -- in the midst of a harsh recession.
The imbalance is intensifying fears about higher interest rates and inflation, and already pressuring the value of the dollar. There's also concern about trying to reverse the deficit -- by reducing government spending or raising taxes -- in the midst of a harsh recession.
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The Treasury Department said Monday that the deficit in June totaled $94.3 billion, pushing the total since the budget year started in October to nearly $1.1 trillion. (Continued Here)
The Treasury Department said Monday that the deficit in June totaled $94.3 billion, pushing the total since the budget year started in October to nearly $1.1 trillion. (Continued Here)
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THE PROBLEM OF PERSONAL DEBT
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(Forget all the deep analysis … this graphic says it all about why we are where we are. Source: Brian Sullivan Blog)
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