Federal Spending At An All-Time High

Reuters Finance News
The US government posted a $US159.3 billion ($A169.52 billion) surplus in April, helped by the mid-month deadline for individuals meeting 2007 tax obligations, but it was down from the prior year's surplus, the Treasury Department reported on Monday. In April 2007, the surplus was $US177.7 billion ($A189.1 billion). In the first seven months of fiscal 2008, which ends on September 30, the government's budget deficit swelled by 88.4 per cent to $US152.2 billion ($A161.97 billion), from $US80.8 billion ($A85.98 billion) in the first seven months of fiscal 2007.
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Posted by Editor at May 13, 2008 01:00 PM