The U.S. annual budget deficit is on track to reach $1 trillion for a fifth straight year, though government revenue jumped last month as people paid some taxes early to avoid higher rates in 2013.
The U.S. federal government's budget deficit widened in November compared to October, a sign that the nation is on a path to its fifth straight $1 trillion-plus deficit. The budget gap rose to $172 billion in November, up from $120 billion in October, the Treasury Department said Wednesday.
If the government budget follows popular sentiment, education, social security and Medicare are safe. Those are the areas where fewest Americans want to see government spending cuts, according to a Gallup poll released Wednesday.
Apparently, lots of voters think it's healthy for neither party to have the votes in Congress to impose its will. But investors need to keep in mind the giant problems that need solving and that can get solved only if the Democrats and Republicans somehow learn to work together.