U.S. Reports Most Favorable December Budget Result Since 2007 (Since Dubya!)
U.S. Reports Most Favorable December Budget Result Since 2007
By Meera Louis - Jan 11, 2013 1:00 PM CT
The U.S. government budget deficit narrowed to its most favorable December monthly result in five years, reflecting higher revenue, lower spending and calendar- driven shifts in some monthly payments.
The shortfall last month shrank almost completely to $260 million from $86 billion in December 2011, according to Treasury Department data issued today in Washington. The gap was smaller than the $1 billion median estimate in a Bloomberg survey of economists. Through the first three months of this fiscal year, the deficit was 9.1 percent smaller than the same period last year.