Tuesday, March 13, 2007

Forex News: 13.03.2007 US federal budget deficit was $120bln in February

The congressional Budget Office reported that the deficit of the federal budget in the USA was $120bln in February, while the analysts expected $119bln. In January federal budget revealed the surplus of $38bln.

Compared with February 2006, the deficit of federal budget grew by $7bln (6%). Withholding for income and payroll taxes rose by $10.5bln (8%) for the same period. Outlays were $11bln greater than in February 2006, including the increase of spending for social security and medical care ($3bln). Medicaid spending was up by $2 billion in February.

The Congressional Budget Office expects that in the first five months of fiscal year 2007, the deficit of federal budget will be $165bln, compared with $218bln in the same period last year.


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