It Must Be Friday Afternoon
Because the Obama administration is making another unfortunate announcement:
The U.S budget deficit for fiscal year 2011 is $1.299 trillion, the second largest shortfall in history.
The nation only ran a larger deficit for the 2009 fiscal year, which included the dramatic collapse of financial markets and a huge bailout effort by the government. The nation’s deficit that year was $1.412 trillion.
This year’s deficit is slightly higher than fiscal year 2010, when the nation ran a $1.293 trillion deficit. Fiscal years run through Sept. 30.