Posted on 01/11/2013 11:55:59 AM PST by blam
The US Deficit Almost Completely Disappeared In December
Sam Ro
January 11, 2013
The U.S. December budget deficit was just $260 million. This is according to the latest Monthly Treasury Statement from the Financial Management Service.
Economists were forecasting a deficit of closer to $1 billion.
The December deficit was also the lowest December number since 2007, reports Bloomberg.
It's worth noting that monthly numbers are noisy, and that seasonal factors tend to be considerable in December.
Regardless, this is an encouraging sign.
Receipts were $269.5 billion while the spending was $269.7 billion. This is important to remember, because budget deficits and surpluses aren't just about spending levels. Indeed, growth plays just as important a role.
As GDP grows, the deficit shrinks. To better understand this, read this and this.
Here's a look at some historical numbers.
(Excerpt) Read more at businessinsider.com ...
If I had to guess I would say that it has to do with our increased oil production.
But I have no idea of what I am talking about. Simply not an expert on the subject.
The Democrats are staging for the March 1st negotiations.
What budget?
errrrr! Which will be payed in April. Thanks for playin’
No, for some peeps the cash has to hit by the end of the year. (maybe jan 15).
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