Better Budget
12/16/2013 | | econ70, Economic forecasting, economist on radio, economist on TV, eisenberg and economics, Eisenberg and housing economics, Eisenberg and public speaking, Elliot eisenberg, Federal budgeting, federal deficit, funniest economist, funny housing economist, FY13 deficit, FY15 deficit, Graphsandlaughs, graphsandlaughs and eisenberg, housing sales, MLS, mortgage banking, Multiple listing service, outlays, politics and economics, Public speaking economist, receipts
During October and November 2013 the federal deficit was $231 billion, $61 billion better than a year earlier. Receipts were up by $34 billion to $380 billion and outlays were down by $27 billion. At this rate, the deficit for all of FY14 will be 3.3% of GDP, down from 4.1% in FY13 and a whopping 10.1% in FY09. The last surplus was in 2001 and was 1.25% of GDP.