Arab Today, arab today us budget gap narrows after 5year high april surplus
Last Updated : GMT 04:58:20
Arab Today, arab today
Arab Today, arab today

Officials cheer $112.9bn leftovers as payments surge

US budget gap narrows after 5-year high April surplus

Arab Today, arab today

Arab Today, arab today US budget gap narrows after 5-year high April surplus

Budget deficit improves
Washington – Arabstoday

Budget deficit improves Washington – Arabstoday The United States\'s yawning annual budget deficit narrowed in April as government coffers brimmed with the largest monthly surplus in five years, official data released Friday showed. The federal budget had a surplus of $112.9bn for the month of April, as payments surged ahead the mid-month due date for annual income tax filings for 2012, according to Treasury Department numbers.
The surplus was almost double the $59.1bn surplus registered in April 2012.
Over the first seven months of the fiscal year, the US budget deficit was $487.6bn, 32 percent smaller than the October-April 2012 period.
Revenues leaped 28 percent in April from a year ago, to $406.7bn, helped in part by January 1 increases in payroll and other taxes.
Expenditures fell a hefty 13 percent to $293.8bn in the second month of severe \"sequester\" spending cuts, aimed at slashing $85bn through September.
\"With the April 15 tax filing deadline past, the full impact of the recent change in tax policy is coming into focus, and it is greater than expected,\" said Brian Kessler of Moody\'s Analytics.
The numbers were good news in another way: they give the Treasury more room to work while politicians battle over the deficit after a cap on its borrowing falls into place on May 18.
\"The improved budget deficit will give the Treasury more wiggle room to finance government programmes should Congress fail to raise the debt ceiling when the current suspension of this limit on government borrowing expires,\" said Sal Guatieri of BMO Capital Markets.
Treasury Secretary Jacob Lew told CNBC television Friday that the government could continue without new borrowing needs into September.
\"The debt limit will be reached in just a few days when it expires on May 18, but because of the cash flows we can predict that we will be okay until Labour Day (September 2),\" Lew said from London.
However, Lew warned, \"Congress should deal with this right away.\"
\"The anxiety caused to the US and world economy by putting this off until the last minute is not good.\"
Republicans are seeking to force the Obama administration to dramatically cut government spending and reform entitlement benefits like Social Security and Medicare, the healthcare programme for the poor, in exchange for a debt ceiling increase.
Both sides are seeking to avoid a repeat of the disastrous debt-limit battle in 2011 that cost the United States its coveted AAA credit rating for the first time, roiling financial markets worldwide.
Standard & Poor\'s, in announcing the downgrade in August, cited \"political brinkmanship\" that raised the risks of a US default.
It was the first time the US was downgraded since it received an AAA rating from Moody\'s in 1917; it had held the S&P AAA rating since 1941.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us budget gap narrows after 5year high april surplus Arab Today, arab today us budget gap narrows after 5year high april surplus

 



Arab Today, arab today
Arab Today, arab today Fadi Kataya explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Mental conflict endures

GMT 07:36 2017 Friday ,24 February

Mental conflict endures

GMT 11:26 2017 Wednesday ,22 February

Dutch corporate takeover defences tough to breach

GMT 11:14 2017 Wednesday ,22 February

Lloyds Banking Group posts surging profits

GMT 10:01 2017 Tuesday ,21 February

Egypt pound rebounds from flotation slide

GMT 09:57 2017 Tuesday ,21 February

Greece agrees to bailout reforms compromise

GMT 09:55 2017 Monday ,20 February

Thailand 2016 growth up but below junta target

GMT 09:29 2017 Monday ,20 February

Kraft Heinz withdraws bid for Unilever

GMT 09:22 2017 Monday ,20 February

China's huge debt poses big headache for central bank
View News in Arabic - Business: أخبار الأعمال
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Wafaa Amer is happy for Sherihan’s return

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday