US budget deficit down to $680B, Lowest in 5 years

Phoebe Bump · Oct 30, 2013

WASHINGTON (AP) - For the first time in five years, the U.S. government has run a budget deficit below $1 trillion.

The government says the deficit for the 2013 budget year totaled $680.3 billion, down from $1.09 trillion in 2012. That's the smallest imbalance since 2008, when the government ran a $458.6 billion deficit.

The deficit is the gap between the government's tax revenue and its spending. It narrowed for the budget year that ended on Sept. 30 because revenue rose while spending fell.

Revenue jumped 13.3 percent to $2.77 trillion, reflecting a slightly better economy and higher tax rates. And government spending declined 2.4 percent to $3.45 trillion, in part because of across-the-board spending cuts that took effect in March.
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http://money.msn.com/investing/news.aspx?feed=AP&date=20131030&id=17054923

I'm sure of it now. The minute the deficit reaches $0 (and probably before), Republicans will want more tax gimmes and drive the debt up to $30,000,000,000,000. They might even win an election or two by promising tax gimmes.

Oh, PS. What does that 5 years correlate with?

garyd · Oct 30, 2013

Thabnk you Hose REpublicans the Sequester is working...

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US budget deficit down to $680B, Lowest in 5 years

Phoebe Bump New Member

garyd Well-Known Member

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US budget deficit down to $680B, Lowest in 5 years

Phoebe Bump New Member

garyd Well-Known Member

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