U.S. budget deficit tops $1 trillion for 2nd straight year+

U.S. budget deficit tops $1 trillion for 2nd straight year+

WASHINGTON, July 13 (AP) - (Kyodo)—The U.S. federal budget deficit stood at $1,004.0 billion in the first nine months of fiscal 2010, topping the $1 trillion for the second straight year, according to a monthly data released Tuesday by the Treasury Department.
The budget deficit from October 2009 to June this year was 7.6 percent smaller than that registered a year earlier as the financial crisis has subdued, but it remains at a critical level.
The U.S. federal deficit marked a record high of $1,417.1 billion in fiscal 2009 ended last September as life-supporting measures for the banking industry amid the financial crisis boosted spending.
In the nine-month period through June, revenue inched up 0.5 percent from a year before to $1,597.0 billion due to increased tax receipts amid the economic recovery.
Expenditures dipped 2.8 percent to $2,601.0 billion, the department said.