US had huge budget surplus in June, compared with deficit a year ago (user search)
       |           

Welcome, Guest. Please login or register.
Did you miss your activation email?
April 30, 2024, 07:52:04 AM
News: Election Simulator 2.0 Released. Senate/Gubernatorial maps, proportional electoral votes, and more - Read more

  Talk Elections
  General Politics
  Economics (Moderator: Torie)
  US had huge budget surplus in June, compared with deficit a year ago (search mode)
Pages: [1]
Author Topic: US had huge budget surplus in June, compared with deficit a year ago  (Read 893 times)
Tender Branson
Mark Warner 08
Atlas Institution
*****
Posts: 58,156
Austria


Political Matrix
E: -6.06, S: -4.84

« on: July 10, 2013, 06:57:16 AM »

Fiscal Year so far:

The federal government ran a budget deficit of $512 billion from October 2012 through June 2013 (the first nine months of fiscal year 2013), according to CBO’s estimates. That amount is almost $400 billion less than the shortfall recorded during the same period last year because revenues have risen significantly, while the government’s spending has declined.



...

June:

The federal government realized a surplus of $115 billion in June 2013, CBO estimates, in contrast with the $60 billion deficit incurred in the same month last year—a difference of $174 billion. But that comparison is distorted by quirks of the calendar: Because June 1, 2013, fell on a Saturday, certain payments that ordinarily would have been made in June this year were instead made earlier, reducing outlays in June by about $34 billion. A similar payment shift occurred from July to June in 2012, increasing outlays in June 2012 by $39 billion. Without those shifts in the timing of payments, the difference between the surplus for June 2013 and the deficit for June 2012 would have been $102 billion.



http://www.cbo.gov/publication/44400
Logged
Tender Branson
Mark Warner 08
Atlas Institution
*****
Posts: 58,156
Austria


Political Matrix
E: -6.06, S: -4.84

« Reply #1 on: July 10, 2013, 07:07:36 AM »

Will be interesting to see what the actual deficit for the FY will be.

July and August are historical deficit months, while September is a surplus month.

Deficit as a %-age of GDP could be anywhere between 3.5% and 4.5%.

4% looks most likely (deficit of ca. 650 Bio. $)

If the deficit would remain at 512 Bio. $, it would be 3.2% of GDP.
Logged
Pages: [1]  
Jump to:  


Login with username, password and session length

Terms of Service - DMCA Agent and Policy - Privacy Policy and Cookies

Powered by SMF 1.1.21 | SMF © 2015, Simple Machines

Page created in 0.022 seconds with 12 queries.