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- The US deficit almost completely disappeared in December
The US deficit almost completely disappeared in December
The
Economists
were forecasting a deficit of closer to $1 billion.
The
December deficit was also the lowest December number since 2007, reports Bloomberg.
It's worth
noting that monthly numbers are noisy, and that seasonal factors tend to be
considerable in December.
Regardless, this is an encouraging sign. Receipts were $269.5 billion while the spending was $269.7 billion. This is important to remember, because budget deficits and surpluses aren't just about spending levels. Indeed, growth plays just as important a role.
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