Join Hands to Build a Smarter India: Sign in | Join now

U.S. Federal Budget Deficit Reaches $137 Billion

Tuesday, 13 December 2011, 01:57 Hrs
Print Email
Washington: The U.S. federal government reported a budget deficit of $137.3 billion in November, the U.S. Treasury Department announced.

That brought the total budget deficit of the first two months of the 2012 fiscal year to $235.8 billion, lower than the $290.8 billion in the same period a year earlier, reported Xinhua.

A major reason for the much lower budget deficit in the first two months than those of last year is an accounting shift. Roughly $31 billion in benefit payments for October went out in late September. Federal benefits are paid on the first day of the month. But because Oct 1 fell on a Saturday, the payments went out a day earlier and were accounted for in last year's deficit.

The U.S. federal government raked in a revenue of $152.4 billion in November, and registered outlays of $289.7 billion. In the first two months of this budget year, the U.S. government collected $315.5 billion. That was up 4.7 percent from a year ago.

In the 2009 fiscal year, U.S. federal government's fiscal imbalance recorded an all-time high level of $1.41 trillion and fell slightly to $1.29 trillion in the 2010 fiscal year.

Currently, the nation's total public debt is about $15 trillion, according to the Treasury.

Economists hold that it is still challenging for the country to keep its fiscal sustainability as the economy is merely on slow recovery.
Source: IANS
Experts on SiliconIndia
Pradeep  Kar
Gaurav  Taneja
Ashish  Abrol
Harsad  Daswani
The Beach
Vilas  Bhalerao
Sr. Manager
RDC Concrete (India)
Praveen  Bsp
Hardware Engineer
Ranjit Singh Thind
English Trainer
Sign Up for DailyDose and Read the Day's Highlights
Write your comment now
SiliconIndia About Us   |   Contact Us   |   Help   |   Community rules   |   Advertise with us   |   Sitemap   |  
News:       Technology   |   Enterprise   |   Gadgets   |   Startups   |   Finance   |   Business   |   Career   |   Magazine  |   Newsletter   |   News archive  
Cities:        CEO   |     Startup   |   Mobile   |   CIO   |   Women   |   BI   |   HR   |   SME   |   Cloud   |   Marketing   |   QA   |   Java   |   Web Developer  
Community:      Members   |   Blogs   |   Indian Entrepreneurs   |   Gyan   |   Advice   |   Community   |   Find   |   CXO Insights  
Job Board:      Jobs   |   Freshers   |   Companies   |   HR Speak   |   Forum  
Online Courses:   Web Developer   |   Java Developer   |   CCNA Training   |   SEO   |   SAS   |   SQL Server 2005   |   J2EE
Education:   MBA   |   MCA   |   Engineering   |   Training Institute
Life:          Real Estate   |   Travel   |   Finance   |   Gadgets   |   Movie Reviews   |    Jokes  
Send your feedback and help us continue to improve SiliconIndia
© 2014 InfoConnect Web Technologies India Pvt Ltd. all rights reserved