US Deficit More Than Doubles to $125 Billion

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The government posted a budget deficit of $125 billion in May, more than twice the level registered in the same month last year.

The budget has become a key point of political contention in Washington during this election year. Economists worry another budget impasse like the one that cost the United States its AAA credit rating last year could be in store at the end of 2012, potentially derailing a fragile economic recovery.

Full story: U.S. government posts $125 bln deficit in May