How’s that glass house treating you, Barack?

WASHINGTON (AP) — The federal budget deficit is rapidly approaching $1 trillion for a fourth straight year even though the government is collecting more tax revenue than last year.

The Treasury Department says the deficit grew by $124.6 billion in May. That put the deficit through the first eight months of the budget year at $844.5 billion, or 8.9 percent below last year’s imbalance for the same period.

Still, the Congressional Budget office forecasts that the deficit for the entire 2012 budget year, which ends Sept. 30, will total $1.17 trillion. That’s only a slight improvement from the $1.3 trillion deficit recorded in 2011.

So far this year, government receipts are running 5.3 percent higher than a year ago. A better job market and modest economic growth have led to higher tax revenue.

Here’s the story about Obama’s new ad, which is highly misleading considering this is Massachusetts and the Democrat-dominated legislature controls the purse strings.

(ABC News) — President Obama’s re-election campaign has spent weeks trying to drive home the point that Massachusetts was at the back of the pack in job growth under Gov. Mitt Romney. Now, a new campaign TV ad touts a stat on which Romney’s state surged to the front — per capita debt.

“Number One,” a 30-second spot, claims Massachusetts debt grew $2.6 billion during Romney’s tenure between 2003 and 2007 to $18 billion, or $4,153 per person, according to Moody’s 2007 State Debt Medians cited in the ad.