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U.S. budget gap widens, tops $1 trillion for third year

(Washington)-in fiscal 2011 budget gap, the United States expand stay slightly more than $1 trillion for the third consecutive year, the political battle over taxes provide fodder and next year's presidential election early consumption.
The ministry of finance on Friday after reports of just two months than the national debt limit, the epic battle, to move the U.S. close appear in the United States, and defaults, the most famous AAA credit rating downgraded.
In September, the shortage of this fiscal year last month, expanding at $6.457 billion, compared with a year ago, although billions of dollars, lower than economists had forecast. The deficit of $1.299 trillion a year, $1.294 trillion in fiscal 2010.
The U.S. economy, the world's largest, escaped the pain of the sovereignty of the debt crisis, the euro zone now, although its financial pain in the deterioration of the position has disturbed the domestic politics.
Many experts believe the U.S. economy is growing lack of power and a tight job market short-term fiscal stimulus calls, or at the very least, to cut spending in the implementation of the constraint.
President barack Obama proposed a $44.7 billion plan to create jobs, but was rejected by the senate this week, now congress are trying to pick up the pieces.
In the republican congress has been pushing deep cuts in spending effort, to solve the budget gap.
Although the dollar calculation on a recent accounting year's budget deficit widened, the United States 8.7% of gross domestic product shrunk to 9% in fiscal 2010. Economists say, GDP is measured in dollar terms than the size of the budget gaps more meaningful measure.
In the first half of this year the United States GDP expansion, while the unemployment rate has remained more than 9% of the stay for months, and raise a new economic worries about a recession less than 1%. Recently, the concern of federal reserve chairman Ben bernanke to, earlier this month, in the deep cuts in government spending, in a fragile economic recovery time may be dangerous warned lawmakers in the testimony.
"(a) factors may drag the United States economic recovery is increased by government departments on drag," bernanke told the congressional joint economic committee.
Even if he steps called long-term deficit under control, the chairman of the federal reserve, urged lawmakers to "avoid continued economic recovery may hinder the fiscal action."
In August after a disastrous debt limit, the United States congress created a special group is responsible for the deficit have reached an agreement to cut in the next 10 years of $$1.2 trillion on November 23,. If they fail, begin from 2013, will cut funding to one size fits all and hard hit the institutions and defense spending plan, would trigger automatic cut its budget.




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