Reuters
U.S. Posts $159 Billion Budget Deficit
Thursday October 24, 5:43 pm ET
WASHINGTON (Reuters) - The U.S. government posted a budget deficit of $159 billion for the 2002 fiscal year, marking the government's return to deficit spending for the first time since 1997, the Office of Management and Budget on Thursday.
The government had $1.85 trillion in receipts for the year, which ended on Sept. 30, and $2.012 trillion in spending.
The 2002 budget gap is the first since 1997's deficit of $22 billion and would be the largest since a $164 billion deficit seen in the 1995 budget year.
In 2001, the federal government posted a surplus of $127.0 billion, a year after posting a record $236.9 billion overage.
http://biz.yahoo.com/rb/021024/budget_deficit_4.html
U.S. Posts $159 Billion Budget Deficit
Thursday October 24, 5:43 pm ET
WASHINGTON (Reuters) - The U.S. government posted a budget deficit of $159 billion for the 2002 fiscal year, marking the government's return to deficit spending for the first time since 1997, the Office of Management and Budget on Thursday.
The government had $1.85 trillion in receipts for the year, which ended on Sept. 30, and $2.012 trillion in spending.
The 2002 budget gap is the first since 1997's deficit of $22 billion and would be the largest since a $164 billion deficit seen in the 1995 budget year.
In 2001, the federal government posted a surplus of $127.0 billion, a year after posting a record $236.9 billion overage.
http://biz.yahoo.com/rb/021024/budget_deficit_4.html
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