U.S. Budget Deficit Down 37.6 Percent Through July: CBO

[babylonsister]

U.S. Budget Deficit Down 37.6 Percent Through July: CBO

By MARTIN CRUTSINGER 08/12/13 02:32 PM ET EDT AP


WASHINGTON -- The government on Monday reported a $97.6 billion deficit for July but remains on track to post its lowest annual budget gap in five years.

July's figure raises the deficit so far for the 2013 budget year to $607.4 billion, the government says. That's 37.6 percent below the $973.8 billion deficit for the first 10 months of the 2012 budget year.

The Congressional Budget Office has forecast that the annual deficit will be $670 billion when the budget year ends Sept. 30, far below last year's $1.09 trillion. It would mark the first year that the gap between spending and revenue has been below $1 trillion since 2008.

Steady economic growth, higher taxes, lower government spending and increased dividends from mortgage giants Fannie Mae and Freddie Mac have helped shrink the deficit.

more...

http://www.huffingtonpost.com/2013/08/12/us-budget-deficit_n_3745096.html?ncid=edlinkusaolp00000003

[a kennedy]

1. This is a good thing right?? and no one is talking about it....

figures.

[babylonsister]

2. Yep. Go figure... nt

[pampango]

3. Don't tell Rand Paul and Eric Cantor - among other republicans.

Paul Krugman:

I think it’s pretty clear that Paul actually has no idea that the deficit is falling; it’s quite possible that neither does Cantor.

http://krugman.blogs.nytimes.com/2013/08/09/a-poll-id-like-to-see/