US posts $97.6 billion budget deficit in July
The United States Government posted a budget deficit of $97.6 billion in July despite austerity measures which have increased revenues and decreased spending
The United States budget deficit rose in July to $98 billion from $70 billion in the same month in 2012. The figure increased 40.2 per cent compared to the same period of last year. Meanwhile, the fiscal year budget deficit hit $607 billion, downed from $974 in the same period in 2012. The White House targets this year's budget deficit as $759 billion.