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Post by unlawflcombatnt on Oct 7, 2009 17:11:13 GMT -6
According to every Economic Calendar I can find, the Treasury Dept. budget report was supposed to be released today (Oct. 7, 2009) at 2 PM. Apparently it was not.
According to the Treasury's own report, along with all other economic calendars, August's budget deficit was -$111 billion.
It appears that the calendars' estimaged date of release for this report by the Treasury Dept. is wrong. (The CBO did, however, estimate the amount today.)
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Post by unlawflcombatnt on Oct 7, 2009 20:10:03 GMT -6
It looks like the CBO has come out with their own guesstimate, though it acknowledges that this is not the final number.CBO Says Federal Deficit Hit Record $1.4 Trillion for Fiscal Year 2009October 07, 2009 6:56 PM by Matthew Jaffe " The federal deficit reached a record $1.4 trillion in the 2009 fiscal year, according to an analysis released Wednesday by the Congressional Budget Office.
The report is not the actual deficit figure, which will be released later this month by the Treasury Department.
The year’s record-high deficit of $1.4 trillion equaled 9.9% of the nation’s gross domestic product, the CBO said. It is the highest shortfall relative to the size of the overall economy since 1945.
The record shortfall stems from an increase in spending to stop the recession, bailout the financial industry, and take over mortgage giants Fannie Mae and Freddie Mac, as well as a decline in tax revenues.
For the year, CBO said revenues dropped by $420 billion from 2008 receipts, a fall of 17%. The revenues totaled about 15 percent of GDP, the CBO found, the lowest level in more than half a century. Meanwhile, outlays were up $530 billion from a year earlier, an 18% increase, equal to nearly 25% of GDP, the highest level in more than half a century.
The previous record deficit of $459 billion was set last year by the Bush administration." blogs.abcnews.com/thenote/2009/10/cbo-says-federal-deficit-hit-record-14-trillion-for-fiscal-year-2009.html#
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