The U.S. government in February spent $211 billion more than it took in, setting a record budget deficit for a month.
The U.S. Treasury released data Wednesday saying figures from last month indicate the federal government will probably pass the annual deficit record of $1.4 trillion set in the last fiscal year.
U.S. Treasury Secretary Timothy Geithner told a House of Representatives subcommittee the deficit spending is aiding economic recovery efforts but also is ‘unsustainably high.’
The current fiscal year is five months old and the government is showing a budget deficit of $651.6 billion, nearly $53 billion more than the same fiscal 2009 time period.”
*This information is solely an excerpt of a third-party publication and is incomplete. Please subscribe to the referenced publication for the full article. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.
For 50 years, Monex has been America's trusted name in gold and other precious metals. With client transactions now totaling over $55 billion, Monex Deposit Company, established in 1987, is today America's premier precious metals dealer because of our dedication to customer service and satisfaction.