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Us Budget Deficit Jumps To $120Bn


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http://www.telegraph.co.uk/finance/economics/9676316/US-budget-deficit-jumps-to-120bn.html

The US budget deficit rose 22pc in October from a year ago, to $120bn, as spending outpaced revenues, Treasury Department data released Tuesday showed.

Spending jumped 16pc to $304.3bn, while revenue rose 13pc to $184.3bn last month, the Treasury said.

October, the first month of the federal government's fiscal year, typically runs a deficit, AFP reported.

But the budget gap was far wider than the average analyst estimate of $113bn.

Well there was an election to be won.

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IEA: U.S. Set to Become World’s Biggest Oil Producer

The United States is poised to become the biggest oil producer in the world within the next decade. The Paris-based International Energy Agency says the United States will surpass Saudi Arabia’s oil production by around 2020 with the aid of controversial extraction techniques such as "fracking" and horizontal drilling.

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IEA: U.S. Set to Become World’s Biggest Oil Producer

The United States is poised to become the biggest oil producer in the world within the next decade. The Paris-based International Energy Agency says the United States will surpass Saudi Arabia’s oil production by around 2020 with the aid of controversial extraction techniques such as "fracking" and horizontal drilling.

Saw that, however America isn't there yet so could turn out to be wishful thinking.

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American politics is so utterly dumbed down commentators can say pretty much anything they want and not get called to account.

For example...

http://www.forbes.com/sites/rickungar/2012/05/24/who-is-the-smallest-government-spender-since-eisenhower-would-you-believe-its-barack-obama/

Who Is The Smallest Government Spender Since Eisenhower? Would You Believe It's Barack Obama?

Oh, and by smallest spender, the author doesnt mean actual spending, but the amount it has increased since the last mahoosive bush deficit. In effect its saying 'Obama's marginally worse than bush', but is getting worse at a slower rate than bush, so thats OK.

Same as saying 'Osbourne is paying off the debt because he's spending slightly less than Darling'

Only in the United states of Dumerica.

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