US deficit 'is falling faster than expected'

May 15, 2013 | Posted by: Mr_Bill | Full story: www.publicfinanceinternational.org

The US will post its smallest budget deficit since 2008 this year as increased revenues boost federal government coffers, according to the Congressional Budget Office.

Publishing updated budget predictions for 2013 to 2023 yesterday, the CBO, which provides the US Congress with budgetary information and advice, said it expected the deficit for the fiscal year ending September to be $642bn. This is $203bn less than the $845bn projected by the CBO just three months ago.

Comments
1 - 6 of 6 Comments Last updated May 15, 2013

Since: Dec 07

Flint, TX

#2 May 15, 2013
Revenue this year will climb to 17.5 percent of U.S. gross
domestic product, up from 15.8 percent in 2012, according to the
agency. The 40-year average is 17.9 percent."

So, while revenues are only 4/10 of one % below the 40 year average, our spending as a percentage of GDP for 2012 was 22.8....time to cut spending

Since: Aug 12

Dammam, Saudi Arabia

#3 May 15, 2013
The government is throwing a lot of dollar around the world, especially in China the trade imbalance is too big.
Halito

Winnemucca, NV

#4 May 15, 2013
The Charity vault is in the Rock....A landmark decision.....
Halito

Winnemucca, NV

#5 May 15, 2013
What's the writing on the Rock?
Halito

Winnemucca, NV

#6 May 15, 2013
Smell any Ethnarchy?
amcummer

Saint Paul, MN

#7 May 15, 2013
So does that mean that the poor are not getting poorer and the middle class too?

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