An Update to the Budget and Economic Outlook: Fiscal Years 2

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An Update to the Budget and Economic Outlook: Fiscal Years 2012 to 2022
from CBO Recent CBO Publications
For fiscal year 2012 (which ends on September 30), the federal budget deficit will total $1.1 trillion, CBO estimates, marking the fourth year in a row with a deficit of more than $1 trillion. That projection is down slightly from the $1.2 trillion deficit that CBO projected in March. At 7.3 percent of gross domestic product (GDP), this year’s deficit will be three-quarters as large as the deficit in 2009 when measured relative to the size of the economy.
http://www.cbo.gov/publication/43539