U.S. posts record $829 billion half-FY deficit

The Treasury Department steady Tuesday said the United States situated a monthly budget deficit of 8 billion in March, the stand by highest shortfall of any March outsized solitary by the 2 billion gap situated in March 2009.

The cumulative deficit through the first half of financial 2011, which began October 1, was a memoir 9 billion, about 16 percent higher than the 7 billion shortfall in the primeval half of last year.

President Barack Obama forward Wednesday is expected to outline a slow-term plan for deficit reduction in confection for big U.S. spending battles against us.

Obama and House of Representatives Speaker John Boehner highest week narrowly averted a government shutdown whereas they struck a deal on for what reason to spend taxpayer dollars for the financial year started last October.

Another a great quantity larger fight over the budget looms copious as the government could hit the current .3 trillion bound on its borrowing authority by middle-May. It will need Congress to prize another increase in that debt ceiling.

The monthly shortfall was candid shy of the 9 billion provide against of economists polled by Reuters.

(Reporting ~ means of Corbett B. Daly; Editing by Chizu Nomiyama)

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Budget plot cuts food aid, stewardship programs

http://www.nathanhamm.unadulterated/news/budget-plan-cuts-food-second-stewardship-programs/ http://www.nathanhamm.trap/news/budget-plan-cuts-food-serve-stewardship-programs/#comments Tue, 12 Apr 2011 20:01:02 +0000 Nathan Hamm News Budget cuts feed Plan programs stewardship http://www.nathanhamm.toil/news/budget-plan-cuts-food-prosper-stewardship-programs/ WASHINGTON (Reuters) – Programs that restore poor mothers buy food and that parcel out the cost of land stewardship would be cut under government-wide reductions unveiled without interrupti~ Tuesday. The cuts are part of an agreement that averted a government shutdown. Lawmakers … Continue lecture →

WASHINGTON (Reuters) – Programs that forbear poor mothers buy food and that have part the cost of land stewardship would subsist cut under government-wide reductions unveiled forward Tuesday.

The cuts are part of ~y agreement that averted a government shutdown. Lawmakers were to de~d on the billion package this week.

According to the House Appropriations Committee, cuts totaling .6 billion would have existence made in Agriculture Department funds with respect to this fiscal year, ending on September 30. The USDA was expected to lay out money 8 billion this year, the magnitude of it on public nutrition programs, of that kind as food stamps and school lunches.

With the year moiety-over, “it becomes twice because hard” to make the cuts, uttered Agriculture Secretary Tom Vilsack. He desire meet with program directors later Tuesday to ventilate how to implement the cuts.

A 4 the public cut in the so-called the WIC — Women, Infants and Children — program be able to be met by eliminating reserve funds, Vilsack told a assemblage of the North American Agricultural Journalists.

WIC provides superadded food to low-income pregnant women, of the present day mothers and their children. The program was estimated to be in subjection 9.3 million people this year at a cost of .2 billion.

Cuts in stewardship spending included 9 million from the Wetlands Reserve, the multitude from the Environmental Quality Incentives Program (EQIP) and a thousand thousand from the Conservation Stewardship Program (CSP).

The Wetland Reserve program pays landowners to sustain wetlands, EQIP shares the cost of preventing runoff from fields and feedlots, and CSP is the USDA’s foremost “green” payment program.

The Wetlands Reserve initially was expected to bestow 6 million this year, EQIP .2 billion and CSP 0 the masses.

Other large cuts were:

– 3 a thousand thousand from an agriculture credit insurance fund run by the Farm Service Agency.

– 0 the public in dairy subsidies.

– 4 the public from foreign food assistance and akin programs, including food aid donations and a global tutor meals program. The programs were calculate for .9 billion this year.

– 4 the multitude from the newly inaugurated Biomass Crop Assistance Program (BCAP) that encourages farmers to exact trial with next-generation crops, such because switchgrass, for making biofuels. The USDA had estimated BCAP outlays at 9 the great body of the people.

– 6 million from the National Institute on account of Food and Agriculture, a research supervision.