Tuesday, February 13, 2007

Forex News: 13.02.2007 Federal budget surplus widens to $38.2 billion in January

The U.S. federal budget surplus widened by 82% in January to $38.2 billion from $21 billion a year earlier.

The surplus is slightly below the Congressional Budget Office estimate of about $40 billion.

January usually as a surplus month because many individuals must make estimated tax payments.

Receipts rose 13% year-over-year to a record $260.6 billion, while outlays increased 6% to $222.4 billion.

For the first four months of the 2007 fiscal year, the deficit was $42.2 billion, about 57.2% lower than the $98.4 billion deficit in the same period in the previous fiscal year.

For all of 2007, the CBO estimates a shortfall of about $200 billion, narrower than the $248 billion deficit in fiscal 2006.


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