September 10, 2012
DEFICIT TOPS $1 TRILLION: “CBO, which releases estimates each month, said the government ran a $192 billion deficit last month. That’s the highest deficit ever for August, which is not traditionally a major month for running in the red. That deep monthly deficit powered the government well past the $1 trillion mark for the fiscal year. With a month still to go, the government is already running $1.17 trillion in arrears.”
Something that can’t go on forever, won’t.