US Budget Deficit Shrinks $1.6 Trillion on Record Tax Surge

[Yo_Mama_Been_Loggin]

(Bloomberg) -- The US federal government’s budget deficit has shrunk by some $1.57 trillion so far this fiscal year, driven by record receipts from a strong economy and a slowdown in spending as pandemic-era programs fade.

The deficit dropped to $360 billion over the seven months from October through April 2022, according to Treasury Department data released Wednesday.

Receipts were $2.99 trillion in the fiscal year-to-date, up from $2.14 trillion a year ago, boosted by strong growth in employment and wages, a Treasury official said during a call with reporters. Receipts just for April -- the month individual tax returns are due -- amounted to $864 billion, the highest for any month on record.

Spending fell to $3.35 trillion in the fiscal year through April, down from $4.08 trillion a year ago, helped in part by the rolloff of pandemic-related benefits to households and businesses.

https://www.msn.com/en-us/money/markets/us-budget-deficit-shrinks-dollar16-trillion-on-record-tax-surge/ar-AAXamtF

[roamer65]

1. The Democratic Party is the party of fiscal responsibility.

[gratuitous]

2. Deficit Peacocks in Congress Go Mute

Luckily for them, the popular media wouldn't think of asking them if they're pleased by the record surplus recorded in April by the Biden administration.

[Carlitos Brigante]

3. I know I'll hate myself for asking this..... But here it goes. What's it going to be now?

"Deficits don't matter."? "It's not true!!!"? "High deficits are good"?

What it must be like to lie with every breath you take.......