CBO Estimates Fiscal 2011 Deficit Matches 2010 at $1.3 Trillion

Not sure if this is ‘better than expected’ or ‘worse than expected’ but the hits keep on coming. Revenue was hit on both the corporate and individual side (social security) due to tax cuts. Without those hits the gap would have narrowed a bit. Spending and tax revenue both grew, but by equal amounts: about [...]