The Treasury Department said this past week that the budget deficit amounted to around 14 billion dollars for the month of December 2015. When you compare this to the surplus of 2 billion in the same month of 2014, it speaks volumes.
Federal budget deficit 14 billion in December:
This is not something startlingly new. For the third month of the contemporary fiscal year, the government has overspent. For this month, the figures were: Spending: 364 billion. Intake: 350 billion.
The treasury department also indicated that the budget deficit could have gone to around 38 billion dollars had the Government not timed some transactions like benefit payments.
The deficit has risen to be 22 percent now. This is around 216 billion dollars in surplus. It’s worth mentioning for those unaware that the budget year runs from October through September.
There have been stark criticisms pointed at the federal government for this surplus spending but it’s not always easy to calculate your way while operating a gigantic country. That being said, we hope that the government can do some cost analysis and in the future, endure less deficit.
