Posted on 08/12/2014 1:23:52 PM PDT by SeekAndFind
The U.S. budget deficit was $95 billion at the end of July, down 3 percent from the same period last year, according to data released by the Treasury Department on Tuesday.
Analysts polled by Reuters had expected a $96 billion deficit for last month. The deficit was $98 billion in July of 2013.
The fiscal year-to-date deficit at the end of July was $460 billion, the lowest level since the same period in fiscal year 2008, compared with a deficit of $607 billion for the same period in fiscal year 2013, according to Treasury's monthly budget statement.
(Excerpt) Read more at in.reuters.com ...
Aren’t these the people who fudged the economic numbers right before the last election?
Reader BEWARE. It is Reuters...speaks volumes.
Well, that is such good news, only a trillion something behind for the year. Washington sure is just a bunch of really keen money managers.
Just imagine, if the government wasn’t stealing peoples wealth to fund just a little bit of welfare, there could be a surplus!
ROTFL! Thanks Elvina. I think we all feel a hell of a lot better now.
I guess this is what passes for competence with this Obama bunch. They overshot the financial runway by only $1.14 trillion, on an annualized basis. Woo-hoo! Break out the champagne!
it’s the sequester; the thing that was supposed to cause airplanes to fall from the sky
Here's how it works. The USA takes in $2.5 trillion dollars in mostly tax revenue and spends $3.5 trillion per year, for a deficit of $1T per year. These annual deficits add up as the years go by into debt, on our case, officially $17T but more likely nearly $100T when federal unfunded pensions are taken into account.
Hail to the federal unionized workers!
Its the “stimuli” package. That one time thing 6 years ago for $787 Billion. If it wasn’t for that, each *and every* year thereafter would in theory be $787 Billion less.
How can there be a reduction in deficit when there is no budget since 07? Only CRs.
well that’s it. No need to worry about a $96B deficit since it declined by $2B.
... Well .... Isn’t this just a bunch of numerical smoke and mirrors since the QE is being gradually scaled back thus appearing as if the deficit is diminishing.
Only 95 billion?
Yahoo!
That’s only a trillion a year. What progress we are making.
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