Federal Deficit Shrinks in January
The US Department of the Treasury reported today that the US budget deficit for the month of January totaled $27.4 billion, down dramatically from the deficit of $49.8 billion in January 2011. About half the improvement is due to the…
The US Department of the Treasury reported today that the US budget deficit for the month of January totaled $27.4 billion, down dramatically from the deficit of $49.8 billion in January 2011. About half the improvement is due to the timing of federal benefits payments.
Treasury receipts in January totaled $234 billion, while spending totaled $276 billion.
The federal deficit for the fiscal year ending in September is expected to be about $1.1 trillion, slightly lower than the $1.3 billion deficit in fiscal year 2011. In the first four months of this fiscal year the federal deficit totaled $349 billion, about $70 billion less than in the same period a year ago.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
