Government revenues rose by 9 percent and spending dropped by 4 percent in the first five months of the fiscal year, according to a Congressional Budget Office analysis.
Receipts from October 2013 through February 2014 totaled $1.1 trillion, up from $1.0 trillion a year ago, the CBO said. Outlays for the most recent period were an estimated $1.48 trillion, down from $1.50 trillion a year ago.
For the month of February, the CBO reported the federal deficit was an estimated $195 billion, some $9 billion below the $204 billion deficit incurred in February 2013. And receipts for last month were 17 percent higher -- $144 billion, an increase of $21 billion.
Increased revenues come from more taxes, which result from increased economic activity. Lower spending means reduced government activity.
So why the griping from the Radical Righteous of the Right Wing?
No comments:
Post a Comment