Economy
US federal deficit to reach $1.65 trillion in 2011
Updated: 2011-02-14 22:58
(Xinhua)
WASHINGTON - US federal deficit in fiscal year 2011 is expected to top historic high level of $1.645 trillion, according to details of the budget proposal provided by the White House before its official release on Monday.
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In 2010, the US budget deficit hit $1.29 trillion after it recorded $1.42 trillion in 2009.
Although the Americans vowed to cut deficit and restore fiscal discipline, the serious austerity policy is not in the near term.
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