U.S. Treasury Runs $75 Billion Budget Surplus, Deficit Down 16 Percent

According to new figures released by the U.S. Treasury Department today, the federal deficit has decreased by another $207 billion and the federal government ran a surplus of $75 billion during the month of September.

WASHINGTON (MarketWatch) — The U.S. government ran a budget surplus of $75 billion in September, the Treasury Department reported Friday, but posted a deficit of $1.089 trillion for all of fiscal 2012, the fourth year in a row with a deficit of more than $1 trillion. Compared to a year ago, the deficit is about 16% less, due to both higher revenues and reduced spending.

More via AP

The deficit totaled $1.1 trillion for 2012. The government’s revenue was boosted by a modest improvement in economic growth. Tax revenue rose 6.4 percent to more than $2.4 trillion. […]

Government spending fell 1.7 percent to $3.5 trillion. The decline reflected in part a drop in defense spending as U.S. military involvement in Iraq was winding down.

This marks the third year in a row that the Obama administration has cut the deficit. Additionally, the Congressional Budget Office projects that the deficit will fall below $1 trillion to $901 billion in 2013.

Because Mitt Romney and Paul Ryan allege that we’re moving in the wrong direction, does this mean they believe we should run higher deficits and employ less people? On substance, their proposed policies, and the policies Paul Ryan has voted for in congress, suggest as much.

Print Friendly
This entry was posted in Economy and tagged , , , , . Bookmark the permalink.
  • Brutlyhonest

    The numbers don’t fit my political agenda, so I don’t “believe” them.

  • zirgar

    These numbers are biased and skewed!! This is just an attempt to make Obama look good before the election!!! Where’s the investigation!!!!!!???

    • bphoon

      Yeah, I expect the next thing we’ll hear from the RWNJ echo chamber area accusations that the Treasury Department is cooking the books…

  • D_C_Wilson

    Yeah, but what’s your source? The Treasury Department? Pfft! Obviously, those numbers were cooked by the “Chicago Boys” to make O’Bummer look good!

  • gescove

    Romneybot: Error. Does not compute.

  • ArrogantDemon

    Darrell Issa will supeoana the Treasury dept very shortly to see if the books are cooked there

    • http://www.facebook.com/profile.php?id=100001577556117 Chris Taylor

      stop with this cooked the books crap u just hate when good news happens under obama dont u