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U.S. Annual Budget Deficit Smallest in Nearly Seven Years

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The U.S. budget deficit narrowed further in May as revenue continued to rise faster than expenses have over the past year, the Treasury Department said Wednesday.


The budget picture has improved this year amid higher tax revenue and stronger economic growth, even though government spending has also increased. Revenue for the fiscal year, which began in October, is running 9% ahead of the year-earlier levels, while government spending is up 6%.


Over the past 12 months, the budget deficit has fallen to $412 billion, down from $460 billion in April and $491 billion a year earlier. That marks the lowest 12-month deficit since August 2008.


The brighter budget outlook means the deficit could come in below projections made by analysts just a few months ago. 


Edited by trottigy
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I wasn't trying to be sarcastic,hope it didn't come across that way.I like the positive news items

:wub: no feelings hurt here my sister. :wave:

I get all excited with these. Maybe they'll say "peace and security " soon. :pray:

I hope it gets even better faster. :yes:

Edited by trottigy
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