YEREVAN, November 14. /ARKA/. The U.S. government’s budget deficit rose sharply in October to $120 billion versus $98 billion from the same month a year earlier, according to the U.S. Department of the Treasury.

Last week  President Obama declared on raising taxes on the wealthiest Americans, that is the only way to reduce the deficit, rbc.ru reports.

President Obama promised to raise the tax rates on income over $250,000.
The American analysts anticipated the U.S. government deficit to hit $113 billion. —0-