The US monthly budget deficit dropped to $88 billion in October, down 47% for the year

[Scott]

 

 

The US government recorded a monthly budget deficit of $88 billion in October, the Treasury Department reported Thursday.

That’s 47% lower than the October 2021 deficit of $165 billion and just below economists’ expectations of $90 billion, according to consensus estimates on Refinitiv.

During October, which is the first month for the government’s 2023 fiscal year, unadjusted spending dropped 9% to $406 billion and revenues increased 12% to $319 billion.

https://www.cnn.com/2022/11/10/economy/us-monthly-budget-deficit-october/index.html

 

[Chomper Higgot]

More good news, and two more years for it to sink in.

[HappyinNE]

6 hours ago, Chomper Higgot said:

More good news, and two more years for it to sink in.

Time for a balanced budget?

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8 minutes ago, HappyinNE said:

Time for a balanced budget?

Undoing loopholes and reversing massive tax breaks given to the rich is certainly long overdue. 

[HappyinNE]

How about a bunch of spending cuts.  I don't believe that you can find enough loopholes and tax breaks to come close to balancing the budget.

[metisdead]

A troll post with a trolling image has been removed.

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2 hours ago, HappyinNE said:

How about a bunch of spending cuts.  I don't believe that you can find enough loopholes and tax breaks to come close to balancing the budget.

Got any analysis to support that belief?