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February Federal Deficit Decrease

Details

Description
FBN’s Peter Barnes reports that the federal deficit reported in February shows a substantial decrease since last year.
Duration 1:03
Date Mar 13, 2013

This transcript is automatically generated

At press get breaking news on the federal budget Peter -- has details from Washington -- Peter.

Hey -- that's right according to the monthly treasury statement the budget deficit clocked in in February February at 204.

Billion dollars compared to 232.

Billion in February of last year that's a 28 billion dollar deep crease.

Thanks to higher tax revenues.

And a slight decline in government spending of course -- January for first we saw payroll taxes increase along with the individual tax rates.

For high income families.

For the fiscal year to date the first five months of fiscal point 813.

The deficit came in at 494.

Billion compared to 581.

Billion in the same period last year that's an 87 billion dollar difference.

Analysts project that the deficit will come in under a trillion dollars this fiscal year for the first time in five years -- national.

This continues to that the case -- raising taxes on.