The U.S. government is racking up debt at a slower pace than last year, according to Treasury Department figures released Monday.
In the first six months of the fiscal year, the U.S. government fell $717 billion further into the red, the Treasury Department reported Monday, including a $65.4 billion deficit in March. That means the deficit for fiscal 2010, which started in October, is down 8% from $781.4 billion in the same period last year.
Despite posting better numbers this year, the Treasury Department is still forecasting that the deficit will hit $1.56 trillion this year, up from the record $1.4 trillion losses posted last year.
Full story: U.S. racks up debt slower than last year – Apr. 12, 2010