The New CS Board

[jumanji0881]

US Budget Deficit Shrinks $1.6 Trillion on Record Tax Surge
https://www.msn.com/en-us/money/markets/us-budget-deficit-shrinks-1-6-trillion-on-record-tax-surge/ar-AAXamtF?ocid=msedgntp&cvid=c94ba722c03e4fe2bc111925a51b99f2

My Comment : A slowing economy will not help the deficit reduction going forward. Nor will the strong dollar as the trade deficit widens and lowers GDP.

Excerpts:
(Bloomberg) -- The US federal government’s budget deficit has shrunk by some $1.57 trillion so far this fiscal year, driven by record receipts from a strong economy and a slowdown in spending as pandemic-era programs fade.

The deficit dropped to $360 billion over the seven months from October through April 2022, according to Treasury Department data released Wednesday.

The Treasury has spent $350 billion in interest payments on federal debt since the start of the fiscal year in October, $76 billion more than in the previous period. Most of that increase is due to additional costs tied to inflation-linked securities, Treasury officials said. The weighted average yield on debt securities was 1.66% at the end of April, barely changed from 1.65% a year before.