Current deficit plunges 32%
May 7th, 2013
06:08 PM ET
2 years ago

Current deficit plunges 32%

New York (CNNMoney) - The annual deficit has fallen 32% over the first seven months of this fiscal year compared with same period last year, according to Congressional Budget Office figures released Tuesday.

A major reason: A big jump in tax revenue.

FULL STORY

Filed under: Deficit
soundoff (13 Responses)
  1. rs

    Well, naturally, we don't have a Republican President.

    May 7, 2013 06:14 pm at 6:14 pm |
  2. Data Driven

    Well, I guess this means we can forget about a comprehensive debt deal. I'm curious to see how conservatives will spin this news.

    May 7, 2013 06:16 pm at 6:16 pm |
  3. gwiz

    wow now explain to people the difference between defecit and debt and alot more people would understand that this is actually a good thing it means that between this year and last year our revenue has increased and spending has fallen and considering we have a 400% defecit reduction from bush to obama were headed in the right direction

    May 7, 2013 06:31 pm at 6:31 pm |
  4. Zerubbabel

    So whats all the fuss about the deficit repubs.

    May 7, 2013 07:28 pm at 7:28 pm |
  5. jkane sfl the gop national disgrace party will be swept out like the trash they are in2014 ?

    Just goes to show you the gop doom and gloom propaganda and romney campaign was full of lies and bs , and the 2013 gop is going down the same lyin path . Anybody that believes anything they say is just plain stupid , the gop is the party of stupid and stupid gop voters. Dow at 15000 .

    May 7, 2013 07:31 pm at 7:31 pm |
  6. Bernard obryant

    Wow debt im one of the best commitee writer in the world . Hmmm people want thing and sometime they go in debt to get it it hard to say no i learn to say no the hard way. usa is in debt because it have to borrow to pay it bill white people tell the story better by sending kid to college. What money that cost. We all have to learn not to buy that new truck or new pair of jordan we have to learn to say no and than usa and people would be ok

    May 7, 2013 07:34 pm at 7:34 pm |
  7. CaliforniaAC

    A lot of pain and sorrow by the least among us has brought the deficit down; a lot more pain and sorrow will keep bringing it down, but middle America will reap the pain of generations neglected to achieve so little at the expense of so much.

    May 7, 2013 07:56 pm at 7:56 pm |
  8. plain&simple

    How about that!!! A jump in revenue reduced the deficit! More people working does that. Now if we can just not make kids school lunches and cancer treatment patients not pay to balance the budget. We could be getting somewhere! We might even raise taxes on the super rich and really get rolling.

    May 7, 2013 08:25 pm at 8:25 pm |
  9. S.B. Stein

    There is some recovery now. It is going to change the results of previous calculations. The GOP won't like it because it means that part of the problem of the debt is going away.

    May 7, 2013 09:58 pm at 9:58 pm |
  10. Thomas

    Oh no , could this be true !

    No way , the communist , socialist , Liberal media of the elites is fixing the books !

    Ted Cruz / Mark Sanford 2016
    Fiscal Responsibility and Moral Accountability

    May 7, 2013 10:10 pm at 10:10 pm |
  11. Catmandew

    Obama got his wish higher taxes! Now don't spend it apply it the deficit and the taxpayers will be happy!

    May 7, 2013 10:20 pm at 10:20 pm |
  12. Marry

    No, that cannot be true – say the Republicans.... It is only the GOP that can reduce deficits – or create them – or no reduce – create… Never mind the GOP will find an explanation that makes the President look bad…

    May 8, 2013 07:02 am at 7:02 am |
  13. Minnie Mouse

    We can't depend on tax revenue to lower our nations dedt because spending less is the answer. Not only spending less, but keeping the cuts that you make in place, with no provisions. If every department was cut by 40% over the next 10 years, which is only 4% less per year then this would make a huge impact. Over the following 10 years 60% cut, which is only 6% less per year. Every department and state needs to be making decisions on what to cut, not having cuts made automatic. Less spending is the answer, with everyone making the proper decisions on what, where and how to cut to where it's not drastically impacting any one department to where we can't run our country properly.

    May 8, 2013 07:25 am at 7:25 am |