Budget deficit balloons

AFP reports:

The US government suffered a wider-than-expected budget deficit of 82.69 billion dollars in April, the Treasury Department said Wednesday. It was nearly four times the deficit chalked up a year earlier and the largest ever recorded in April. Most analysts had expected the April deficit, the 19th consecutive month of federal red ink, to be about 52 billion dollars. . .

“The federal government normally runs a surplus during April because of personal income-tax payments but is running a deficit now because of the recovery from the recession and the policy response,” said Augustine Faucher, director of macroeconomics research for Moody’s Economy.com.

That’s 59% higher than projected, and what’s particularly appalling is April includes tax day.

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