The PJ Tatler

Budget news: Deficit up nearly 16% in the first half of the year

I wonder if Brackets will mention this in his speech tomorrow.

The US budget deficit shot up 15.7 percent in the first six months of fiscal 2011, the Treasury Department said Wednesday as political knives were being sharpened for a new budget battle.

The Treasury reported a deficit of $829 billion for the October-March period, compared with $717 billion a year earlier, as revenue rose a sluggish 6.9 percent as the economic recovery slowly gained pace.

Is this hope, change, or fundamental transformation?