US budget deficit nears 1 trillion dlrs: Treasury

The US budget deficit accelerated in March to hit a record nearly one trillion dollars in the first half of the current fiscal year as the government moved to bail out troubled institutions, government data showed Friday.

//snipurl.com/fnqoa



Social Security's Surplus Disappearing Fast in Downturn

According to both the budget proposed by the White House in February and projections issued by the Congressional Budget Office (CBO) in March, Social Security benefits ($659 billion, according to the CBO) will exceed payroll taxes ($653 billion) in fiscal 2009 for the first time since 1984.

//snipurl.com/fnqpi


From Information Clearing House



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