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Global Crossing reported a third-quarter loss of $3.35 billion, compared with a shortfall of $544.1 million a year earlier.
So far in the first six months of the current fiscal year, the United States has a deficit of $35.6 billion compared with a shortfall of $48.8 billion a year earlier.
Metromedia Fiber Network, a provider of high-speed Internet infrastructure, said yesterday that losses in the third quarter ballooned to $242.1 million, or 39 cents a share, compared with a shortfall of $95.3 million, or 17 cents, in the comparable period a year earlier.
Meeting expectations it had already lowered last month, Lucent said its losses narrowed to $423 million, or 14 cents a share, compared with a shortfall of $464 million, or 14 cents a share, in the year-earlier quarter.
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The state still faces a shortfall of $9.2 billion next year, compared with a $26.6 billion shortfall last year.
UK government borrowing came in at £10.3bn in October, excluding the impact of the banking bailout – a record for the month and compared with a £10.1bn shortfall a year ago, separate figures showed.
The shortfall compared with a loss of $484 million, or 14 cents a share, in the period a year earlier.
As a result, Mr. Orr said, revenue is running at a rate about 9percentt below last year, or $250 million, compared with a previous estimate of a 5percentt shortfall.
The size of the shortfall equaled 4.9percentt of the nation's gross domestic product, compared with a record 5.2percentt in the first three months of the year.
Cash is a further problem, with a shortfall of $25m in funding for voter registration.
Those diversions, plus enormous investment losses in 2008 and 2009, have left the pension fund with a shortfall of about $86 billion, the prospectus explains, roughly twice the shortfall before the 2003 bonds were issued.
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