(Recorded on 01/19/21) Topics covered on this video coaching call America has once again, in recent months, reminded the world of its state of terminal economic and political decline. In this special video presentation, trading coach Jerry Robinson shares how you can...
WASHINGTON -(Dow Jones)- The federal budget deficit for the first nine months of the 2010 fiscal year was just over $1 trillion, the Congressional Budget Office reported Wednesday.
The shortfall, reflecting $2.6 trillion in outlays for the first three quarters and $1.6 trillion in receipts, narrowed slightly compared with the same point in fiscal 2009.
Receipts were 0.5% higher for the period compared to the first three quarters of 2009, CBO said in its monthly budget review.
The rise in revenues was a result of increased corporate tax collections, due to improving economic conditions, and a shift by the Federal Reserve to higher- yielding investments.
But individual income and payroll tax receipts were down 4% over the nine- month period, suggesting that wages and salaries have not improved to the extent that corporate profits have.
-By Martin Vaughan, Dow Jones Newswires;
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