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Last Update: 13-Jan-12 09:57 ET
Treasury Deficit Widens in December
The December Treasury Budget showed a deficit of $85.967 bln compared to a deficit of $78.134 bln in December 2010. Since the Treasury budget data are not seasonally adjusted, the results cannot be compared with levels from November.
The Briefing.com consensus expected the deficit to be $84.0 bln.
The Congressional Budget Office released its deficit preview earlier in the week and forecasted a shortfall of $84.0 bln. The market is well aware of the CBO's forecast, and since the discrepancy between the CBO and actual data was minor, there was no market reaction to the budget release.
Total outlays increased from by $10.8 bln, from $315.0 bln in December 2010 to $325.9 bln in December 2011. Revenues increased by $3.1 bln, from $236.9 bln to $240.0 bln during the same time frame.
Fiscal year-to-date, the deficit is $321.7 bln, $47.2 bln less than FY 2011.
The Briefing.com consensus expected the deficit to be $84.0 bln.
The Congressional Budget Office released its deficit preview earlier in the week and forecasted a shortfall of $84.0 bln. The market is well aware of the CBO's forecast, and since the discrepancy between the CBO and actual data was minor, there was no market reaction to the budget release.
Total outlays increased from by $10.8 bln, from $315.0 bln in December 2010 to $325.9 bln in December 2011. Revenues increased by $3.1 bln, from $236.9 bln to $240.0 bln during the same time frame.
Fiscal year-to-date, the deficit is $321.7 bln, $47.2 bln less than FY 2011.
