Marketplace   Menu Guide   Complete Pages      
butler eagle
Site last updated: Friday, February 27, 2015 Bookmark our site!
Local PennsylvaniaNationalInternationalNews Extras  
Published: November 13, 2013 print this article Print save this article Save email this article Email ENLARGE TEXT increase font decrease font

US budget deficit falls 24 percent in October



WASHINGTON — The partial government shutdown and steep federal spending cuts helped lower the U.S. federal deficit last month, signaling more improvement in the government’s finances.
The Treasury Department says the government ran a deficit of $91.6 billion in October, down 24 percent from the same month a year ago. The decline comes after the government ran an annual deficit of $680 billion for the 2013 budget year that ended on Sept. 30, the lowest in five years.
Spending fell 5 percent in October to $290.5 billion, partly because of the shutdown and because of across-the-board spending cuts put in place earlier this year.
Tax revenue rose 8 percent in October compared with a year earlier to $199 billion. Higher taxes and modest economic growth have helped boost revenue this year.





Back
Comments
Order Photos!
 
MORE NEWS HEADLINES
arrow Fire on Friday destroys mobile home
arrow Mars science fair
arrow Council criticizes parents
arrow GOP set to pass Homeland Security funding
 
MOST READ ARTICLES
arrow Deputies wrestle man to floor in courtroom
arrow 3 injured in 2 vehicle crash on Route 8
arrow Derailed train shuts down railroad line
arrow POLICE REPORTS