Disappearing Deficit
01/16/2014 | | December Deficit, Economic forecasting, Eisenberg and housing economics, Eisenberg and public speaking, Elliot eisenberg, Graphsandlaughs, MLS, Multiple listing service, Public speaking economist, US Treasury Deficit, econ70, economist on TV, economist on radio, eisenberg and economics, federal deficit, funniest economist, funny housing economist, graphsandlaughs and eisenberg, housing sales, mortgage banking, politics and economics
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.