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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (236700)	6/10/2005 2:42:37 PM
From: RetiredNow	Read Replies (1) \| Respond to of 1574491

Some good news on the deficit... UPDATE 1-U.S. May budget deficit narrows to $35.29 bln Fri Jun 10, 2005 02:29 PM ET (Adds details, comment in paragraphs 5-7) WASHINGTON, June 10 (Reuters) - The U.S. budget deficit narrowed in May by more than analysts had expected, as receipts grew more than spending, a government report showed on Friday. The Treasury Department, in its monthly budget statement, reported a $35.29 billion budget gap last month. That compared with a $62.46 billion deficit in May 2004, and was the smallest deficit for May since 2001, when it totaled $27.9 billion. The May deficit also was narrower than economists' forecast for a $47.50 billion deficit. So far this year, the United States has recorded a $272.23 billion deficit, down from a cumulative $346.29 billion in the first eight months of fiscal 2004, which ended Sep. 30. Total government receipts have reached $1.369 trillion so far this fiscal year, about 15.5 percent higher than the comparable period a year last year. Outlays so far this year have totaled $1.642 trillion, up about 7 percent, the report showed. David Sloan, an economist at 4CAST Ltd., said he now expects the fiscal 2005 budget deficit to come in below $350 billion, and below 3 percent of gross domestic product. "Much of the improvement from 2004 can be attributed to special factors but the deficit is now clearly falling," he said.