Corporate cash-hoarding continues
Even as the economy improves, corporate America continues to pile up record amounts of unused cash, Bloomberg reports. Read more at Counterparties
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Budget deficit widens to $191 billion in August vs. year ago
WASHINGTON |
WASHINGTON (Reuters) - The budget deficit widened to $191 billion in August, mostly due to monthly benefit payments that were made earlier because of the September labor day holiday weekend.
The deficit in August 2011 was $134 billion.
The Treasury Department said on Thursday that receipts totaled $179 billion in August, up $10 billion from the same period last year.
Monthly outlays totaled $369 billion, up $66 billion from August 2011 as the government accelerated $57 billion in benefit payments that would have been made in September.
For the first 11 months of fiscal 2012, the government's budget deficit totaled $1.164 trillion compared with $1.234 trillion in the same period last year.
(Reporting By Rachelle Younglai; Editing by Neil Stempleman)
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