WASHINGTON, Dec. 12 (UPI) -- The federal deficit for fiscal 2012 will be just under $1 trillion, the U.S. Treasury Department forecast Monday.
If it does come in at $996 billion as projected, it would be a first under the Obama administration, The Hill reported
The red ink flowed faster the past three fiscal years, reaching $1.3 trillion in 2011 and 2010, and $1.4 trillion in fiscal 2009, the Washington publication noted.
Treasury officials said the budget deficit grew by $137 billion in November, down from $150 billion in November 2010. The federal government took in $152 billion in November but spent $289 billion.
The deficit was smaller in October -- $98 billion -- but that was because payments normally made in October were made in September, The Hill said.
