Federal budget deficit rises in August
Treasury Department says deficit at all-time high through first 11 months of the budget year.
September 11, 2008: 2:23 PM EDT
WASHINGTON (AP) -- The federal budget fell further into the red in August, pushing the deficit with one month left in the budget year to an all-time high.
The Treasury Department reported Thursday that the deficit through the first 11 months of this budget year totaled $483.4 billion, up 76.2% from the same period a year ago.
While that set an all-time high for a budget deficit through the first 11 months of a budget year, analysts say a surplus in September will push the deficit slightly below the current record-holder for an entire year, a $413 billion deficit set in 2004.
Edited by SoS, 12 September 2008 - 13:26.