Marko's Take: U.S. Budget Deficit Continues To Spiral Out Of Control

Friday, May 14, 2010
Yesterday, we wrote about the huge budget deficits plaguing the Euro-Zone. Greece, the center of attention, has a budget deficit equivalent to approximately 14% of Gross Domestic Product (GDP). The United States, thought to be much more fiscally prudent, is current running a deficit of 12% of GDP. Latest monthly budget numbers for April indicate a rapidly deteriorating fiscal situation. Full story here