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Home / Articles / News / National Today /  Obama Administration Predicts $1.2 Trillion Federal Budget Deficit
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Friday, July 27,2012

Obama Administration Predicts $1.2 Trillion Federal Budget Deficit

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The latest budget figures from the White House predict this year’s federal budget deficit will end up at $1.2 trillion.

That would make the fourth consecutive year of trillion dollar-plus deficits during President Barack Obama’s administration.

The White House budget office also predicts the economy will grow at a 2.6 percent annual rate this year and that the jobless rate will average 8 percent this year.

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