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Budget Surplus: Deficit Down As Monthly Surpluses Rise
Back in April 2006, the monthly surplus made it evident that the strong economy was yielding near record receipts for the federal government.
April 2005 receipts were $277.61 billion. The April 2006 numbers were higher by $37.48 billion or 13%, representing the second highest numbers on record. Although the deficit for the first seven months was $184.14 billion, it was down 22% from a year earlier. Original estimates by the White House ran as high as $423 billion and for the Congressional Budget Office as high as $371 billion. CBO later projected a deficit of $350 billion, with the possibility, that it could come in closer to $300 billion. Interestingly, the deficit as a percentage of Gross Domestic Product, GDP, will only be slightly above 2% That is one of the smallest deficits in the industrialized world. Now in September as we near the end of the fiscal year-September 30th, the deficit is projected to be about $260 billion. Although the deficit is still too high, responsible Congressional action could easily turn these negatives to positives. Congress has spent at a rate far outpacing inflation. What we really must focus on, is our TOTAL DEBT, caused mostly from increased government payrolls and government programs at state, local and federal levels. Let your congressman know,if you want spending bought under control. Most Americans do.
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