Deficit Down Revenues Up
Fox News
Federal deficit projections continue to plummet as tax revenues soar. The federal government set a new record Friday for one-day tax receipts. Friday was the quarterly deadline for tax payments, and the government took in $85.8 billion — beating the previous record by almost $16 billion. Revenues are 20-percent higher than a year ago at this time.
Treasury Undersecretary for Domestic Finance Randal Quarles said the numbers provided a "continuing demonstration of the strength of the U.S. economy." And Office of Management and Budget director Rob Portman said the revenue produced by the robust economy keeps the government on pace to cut the deficit in half ahead of the president's 2009 goal.
Federal deficit projections continue to plummet as tax revenues soar. The federal government set a new record Friday for one-day tax receipts. Friday was the quarterly deadline for tax payments, and the government took in $85.8 billion — beating the previous record by almost $16 billion. Revenues are 20-percent higher than a year ago at this time.
Treasury Undersecretary for Domestic Finance Randal Quarles said the numbers provided a "continuing demonstration of the strength of the U.S. economy." And Office of Management and Budget director Rob Portman said the revenue produced by the robust economy keeps the government on pace to cut the deficit in half ahead of the president's 2009 goal.
posted by Andy W. Rogers | 7:27 AM
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