The federal government incurred a budget deficit of $578 billion in the first five months of fiscal year 2012 (that is, October 2011 through February 2012), CBO estimates in its latest Monthly Budget Review—$63 billion less than the shortfall recorded for the same period last year. Without shifts in the timing of certain payments and in the recording of tax refunds, however, the deficit would have been close to $600 billion.
So in reality thus far in 2012 the Budget Deficit is really only 41 billion lower than last year at this time, Wow the government is really saving some money now. Keep in mind all of this will be adjusted later anyway so I expect the real deficit to be more than 2011 by the time all of the adjustments are made.
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