America's shrinking deficit

MARTIN CRUTSINGER
Last updated 09:59 13/02/2014

Relevant offers

World

Teen earns $500,000 a year babysitting Simon Marais loses battle with cancer How boxer briefs got into America's pants Putin a 'naked king' facing economic ruin: Khodorkovsky Bucking penis operator abuses hen's party SIM card maker admits US/UK spies probably hacked its network HSBC says Swiss scandal brings shame China's newest billionaires minted in its IPO frenzy The world's most successful company Editorial: Ukraine war cannot be won

The US government's deficit through the first four months of this budget year is down 36.6 per cent from a year ago, signalling further improvement in the nation's finances.

The Treasury Department says the deficit for January was US$10.4 billion ($12.4 billion).

For the period from October through January, it totals US$184b. That is down US$106.4b from the same period a year ago and puts the country on track for a further improvement in the budget deficit.

The Congressional Budget Office is projecting that the deficit for the current budget year will decline to US$514b.

That would be the smallest imbalance in six years. The deficit last year was US$680.2b.

Rising tax revenues from an improving economy and government spending constraints are helping to trim the deficit.

Ad Feedback

- AP

Special offers

Featured Promotions

Sponsored Content