Comments Subscribe to Personal Liberty News Feed Subscribe to Personal Liberty
 

U.S. Deficit $1.1 Trillion Through July

WASHINGTON, Aug. 10 (UPI) — The U.S. Treasury Department said Wednesday the budget deficit through July has reached $1.099 trillion, $70 billion less than the same time last year.

The small closure in the gap was due to more government revenues, the department said in a statement. Total spending was up from $2.921 trillion to $2.992 trillion, but government receipts grew more, from $1.753 trillion to $1.893 trillion, The Hill reported.

Senate Minority Leader Mitch McConnell, R-Ky., and House Speaker John Boehner, R-Ohio, Wednesday announced their six appointees for a bipartisan, 12-member panel tasked with finding $1.5 trillion in cuts to the deficit. Senate Majority Leader Harry Reid, D-Nev., announced his picks Tuesday, and House Minority Leader Nancy Pelosi, D-Calif., has until Tuesday to announce the final three members of the so-called supercommittee.

White House spokesman Jay Carney told reporters Wednesday it’s important for the supercommittee to take a balanced approach in seeking to reduce the deficit.

“I think every member of Congress who’s elected and sent to Washington to represent his or her constituents has a responsibility to act seriously when asked to deal with such a serious issue,” Carney said. “We strongly believe that the way to do that is to take a balanced approach — and we are not alone. The American people overwhelmingly support the balanced approach that the president supports. And Republicans and Democrats, together, support the balanced approach that the president supports. And I would think that when we’re looking at the things that have created the deficits and debt that we have, it’s very instructive to remember that we have to look into every area.”

Carney said President Barack Obama is preparing recommendations for the panel.

UPI - United Press International, Inc.

Since 1907, United Press International (UPI) has been a leading provider of critical information to media outlets, businesses, governments and researchers worldwide.

Facebook Conversations

Join the Discussion:
View Comments to “U.S. Deficit $1.1 Trillion Through July”

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.

Is there news related to personal liberty happening in your area? Contact us at newstips@personalliberty.com

Bottom
close[X]

Sign Up For Personal Liberty Digest™!

PL Badge

Welcome to PersonalLiberty.com,
America's #1 Source for Libertarian News!

To join our group of freedom-loving individuals and to get alerts as well as late-breaking conservative news from Personal Liberty Digest™...

Privacy PolicyYou can opt out at any time. We protect your information like a mother hen. We will not sell or rent your email address to anyone for any reason.