Monday, December 17, 2007

U.S. budget deficit the lowest in five years, but...

The deficit on a cash-flow basis of $162.8 billion represented the lowest imbalance in five years. "The 2.6 trillion in record-breaking revenues that flowed into the Treasury this year reflect a healthy economy," Treasury Secretary Henry Paulson said. But Social Security and Medicare will cause the deficit to balloon if solutions aren't found.

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