Disappearing Deficit
01/16/2014 | | December Deficit, econ70, Economic forecasting, economist on radio, economist on TV, eisenberg and economics, Eisenberg and housing economics, Eisenberg and public speaking, Elliot eisenberg, federal deficit, funniest economist, funny housing economist, Graphsandlaughs, graphsandlaughs and eisenberg, housing sales, MLS, mortgage banking, Multiple listing service, politics and economics, Public speaking economist, US Treasury Deficit
In the month of December, the US Treasury ran a surplus of $53.2 billion. What is remarkable is that over the past 10 years the December deficit has averaged $22.7 billion, and over the last five it’s averaged $61.7 billion. Last year the December deficit was just $1.2 billion. The improving economy and last year’s tax hikes have boosted receipts by about 8%, while outlays are down almost as much.