WASHINGTON (AP) The U.S. government's budget deficit shrank to just $37 billion in March from $107 billion in the same month last year, the latest sign of improvement in the nation's finances. The deficit was the lowest for the month of March in 14 years.
In its monthly budget report, the Treasury Department says the deficit fell partly because revenue jumped 16 percent to $216 billion. Individual income and Social Security taxes have increased as employers have steadily hired more workers in the past year.
Changes in the timing of about $40 billion in benefit payments and tax receipts from March last year to February this year were also a big reason for the smaller deficit. Excluding the impact of those timing shifts, the deficit would have been $77 billion last month.
To comment, the following rules must be followed:
Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to email@example.com. Please provide detailed information.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or firstname.lastname@example.org.