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Technology Stocks : Dell Technologies Inc.
DELL 134.08-1.4%10:33 AM EST
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To: Lee who wrote (86414)12/21/1998 4:33:00 PM
From: Mohan Marette  Read Replies (1) of 176387
 
Market friendly news,ammo for tomorrow?

Lee:
Here is another bit of news which could be perceived as market friendly news,no?
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U.S. budget deficit still dropping in November

3.33 p.m. ET (2033 GMT) December 21, 1998

WASHINGTON — The shortfall between the federal government's spending and its income kept narrowing in November on healthy tax receipts, a Treasury Department report Monday showed.

The monthly deficit eased to $17.12 billion from $17.35 billion in November 1997.

So far in the first two months of fiscal 1999 that ends next Sept. 30, the cumulative deficit has fallen seven percent to $49.58 billion from $53.32 billion in the comparable two-month period a year earlier.

The Clinton administration is forecasting a surplus for all of fiscal 1999 of $54.23 billion. In fiscal 1998 that ended on Sept. 30, the government posted a $70.22 billion surplus -- its first surplus in nearly 30 years. The Congressional Budget Office, which provides Congress with forecasts used in drafting the federal budget, said last month that it anticipated a fiscal 1999 surplus of $63 billion.

Treasury said that income-tax payments by individuals -- its largest single source of revenues -- climbed to $51.34 billion last month from $46.60 billion in November 1997.

But tax revenues collected from corporations fell slightly to $3.44 billion in November from $3.91 billion in November 1997.
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