![]()
- Goldman Sachs Head Says Banks Do 'God's Work'
- Fed's Bullard: Tighten Only When Recovery's 'Solid'
- Bankers Are Like Domino's Pizza Franchises: Expert
- Kraft to Formalize Hostile Cadbury Bid on Monday
- GE, Comcast Agree on NBC Universal Valuation
- Hottest Zip Codes for Home Prices
- US Home Values Follow Sales Higher, For Some
- China Urges US to Control Deficit to Stabilize Dollar
- US Health Care Reforms Face Tough Path in Senate
- Tamminen: Why Does Oklahoma Want To Drown New York?
- Food Network, HGTV Drive Scripps Networks' Upside Surprise
- Tommy Lee, Medical Tourism and Nasty Santa, Your Emails
- U.S. Markets Gain 3% for the Week Despite 10.2% Unemployment
- Disney's 'Carol' Tests Widest 3-D Release Ever
- Stimulus II? Jobs Tax Credit=Cash For Clunkers
- Rockwell Automation Earnings: What Options Are Saying
- Gold Will Touch Higher Lows and Higher Highs: Analyst
- Is Misery Alive And Well in Your Office?
MOST SHARED
- US Becomes Top Country Brand Under Obama: Survey
- BofA Board in Civil War Over Lewis' Succesor
- Kraft to Formalize Hostile Cadbury Bid on Monday
- What Stocks to Buy Amid Health Care Overhaul: Strategist
- Obama Delays Start of Asia Trip to Attend Memorial
- Sweeping Health Care Overhaul Bill Passes House
- GE, Comcast Agree on NBC Universal Valuation
- Framed for Porn – By a PC Virus
The U.S. government posted a $36.32 billion budget deficit in July, a 9.5 percent increase from the deficit of $33.16 billion recorded a year earlier in July 2006, the Treasury Department said on Friday.
But so far during the first 10 months of fiscal 2007 that ends on Sept. 30, the cumulative deficit has fallen by 34 percent to $157.29 billion from $239.65 billion in the comparable ten-month period in fiscal 2006.
July is typically a budget deficit month and this year both outlays and receipts climbed from a year ago.
The federal government took in total receipts of $170.44 billion last month, up 6.7 percent from $159.76 billion in July 2006. Outlays rose to $206.76 billion from $192.93 billion in July last year.
The latest cumulative deficit figures indicate the government is on track to significantly reduce the full fiscal 2007 deficit from the $248.2 billion shortfall reported for fiscal 2006.
The nonpartisan Congressional Budget Office estimated earlier this month that the U.S. budget deficit this year will shrink to between $150 billion and $200 billion.
Steady if moderate economic growth that has boosted corporate profits has boosted tax revenues and helped narrow the shortfall between the government's spending and its income.
Treasury said that, in the first 10 months of fiscal 2007, its total receipts hit a record $2.116 trillion, up from $1.970 trillion in the comparable period in fiscal 2006.
Outlays also were a record at $2.273 trillion in the 10 months compared with $2.209 trillion in the year-earlier period.
- Rumors abound that Oprah will leave her show to start a new network. What would this mean for daytime TV?
- A private equity specialist sponsored a stand-up comedy troupe in New York to prove that CEOs can, in fact, be funny.
- Cramer did the research and found eight stocks that lead the pack. Read on to get his top picks.
- Did Hideki Matsui’s performance make it more likely that the Yankees will pay to have him back?
- Which wines should you bring—or serve—with holiday meals this year? Ask a connoisseur.
- Two competitors in this year’s World Series of Poker in Las Vegas have stories fit for Hollywood.











