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Federal Deficit Tops $1T for Fourth Straight Year

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Description
FBN’s Robert Gray on the federal deficit topping $1 trillion this year.
Duration 0:50
Date Oct 12, 2012

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I'm Robert -- you're Fox Business -- the federal budget deficit topped the one trillion dollar mark -- fourth straight year.

But the deficit is 207 billion dollars less than last year.

The Congressional Budget Office estimates -- deficit was equal to 7%.

Of our nation's gross domestic product.

Meanwhile apple is expected to unveil its -- iPad -- an invitation only event October 23 that's according to website all things digital.

That would be just days before Microsoft unveils its new surface tablet and latest operating system windows eight.

Now there's been much speculation that apple is planning a smaller less expensive version of its popular iPad.

And -- stock is on the rise after UBS affirmed the home improvement retailers buy rating.

UBS sees a growing housing market which in turn would help drive Lowe's earnings.