WASHINGTON – The U.S. budget deficit grew by nearly $60 billion in June, remaining on track to exceed $1 trillion for the fourth straight year.
Through the first nine months of the budget year, the federal deficit totaled $904.2 billion, the Treasury Department reported Thursday.
President Obama is almost certain to face re-election having run trillion-dollar-plus deficits in each of his first four years in office. That would likely benefit GOP presumptive nominee Mitt Romney.
The Congressional Budget Office predicts the deficit for the full year, which ends on Sept. 30, will total $1.17 trillion, a slight improvement from the $1.3 trillion deficit recorded in 2011.
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