03/22/2013
The Federal Budget Deficit Picture
The other day the U.S. federal budget deficit for February was released, $203.5 billion, down $28 billion from Feb. 2012. In the first five months of the fiscal year beginning Oct. 1, the deficit is $494 billion, or down $87 billion for the same period a year ago.
Sequester budget cuts could reduce the debt further through the end of the fiscal year, Sept. 30, plus an improving economy means more revenues (on top of the tax hikes initiated beginning of the year.
The Congressional Budget Office estimates the deficit for F2013 will be $845 billion, down from $1.1 trillion in F2012 and F2009’s record $1.4 trillion.
So I thought I’d look back at the deficit picture the past few years and I’ll update this from time to time as I do with existing home sales.
Deficit/Surplus (-) ($millions)
Dec-06... -41,961
Jan-07... -38,236
Feb-07...119,993
Mar-07...96,270
...then the financial crisis hit...and a new president was elected...
Dec-08...51,754
Jan-09....63,457
Feb-09...193,859
Mar-09...191,589
Dec-09...91,410
Jan-10....42,634
Feb-10...220,909
Mar-10...65,387
Dec-10...78,134
Jan-11....49,796
Feb-11...222,507
Mar-11...188,154
Dec-11...85,967
Jan-12....27,407
Feb-12...231,677
Mar-12...198,157
Dec-12...1,191
Jan-13... -2,883
Feb-13...203,539
*The Oct/Nov 2012 combined deficit of 292bn was the highest since Oct/Nov 2009...296bn.
Source: fms.treas.gov
Wall Street History returns in two weeks.
Brian Trumbore
