US budget deficit cut in half to $1 38T as pandemic spending slows down HEAD TOPICS
US budget deficit cut in half to $1 38T as pandemic spending slows down
10/22/2022 12:30:00 AM US budget deficit cut in half to $1 38T as pandemic spending slows down
Source FOX Business
US budget deficit cut in half to $1 38T as pandemic spending slows down The U.S. federal budget shortfall was cleaved in half in fiscal year 2022, the Treasury Department reported on Friday, as COVID-19-related spending dried up. The U.S. federal budgetdeficit fell by half for the 2022 financial year as once-aggressive pandemic relief spending dried up and receipts surged, the Treasury Department said on Friday. The gap between what the government spent and what it collected tumbled to $1.375 trillion at the end of September, down from the 2021 deficit of $2.776 trillion. "Today’s joint budget statement provides further evidence of our historic economic recovery, driven by our vaccination effort and the American Rescue Plan,"Treasury Secretary Janet Yellensaid in a statement. "It also demonstrates President Biden’s commitment to strengthening our nation’s fiscal health." Read more:
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The U.K. government has introduced new legal measures that would regulate crypto ads and ban unauthorized crypto providers from offering services. CoinDesk Regulatory Reporter Jack Schickler discusses what this means for the crypto industry. Plus, the impact of Liz Truss' resignation on the broader market. Read more >> This information comes to you from the same democrats who swear that our economy is “strong as hell” and that the energy crisis is because of Putin. 😏Luxury-Sedan Showdown: 2023 Genesis G90 vs. 2022 Lexus LS500 vs. 2022 Mercedes-Benz S500These leviathans prove the luxury sedan is far from dead. But which of these cruise ships is the one you want to sail away in? GenesisUSA Lexus MercedesBenz I love all these brands of cars Lexus is my favorite Photos: 2022 FHSAA 4A District 1 Swimming ChampionshipPHOTOS See the action from the pool as bt_athletics, CreeksideATH, MHSsportszone and more teams raced for the District 1-4A swimming championship. 2022 Election: Alleged act of voter intimidation in Arizona reported to Justice DepartmentAccording to the report, a voter was allegedly followed, filmed, and called a ‘mule' by a group of people at a Mesa ballot drop box. All voting should be in person and on one day that is a national holiday. There is a ballot drop box at a natural park in the middle of nowhere, with no cameras on it. We need to do better to protect our legitimate votes. What a garbage article! Everything is alleged. Do we believe any of this? This is a politically motivated article pure and simple! Fox 10 is turning into the National Enquirer 2022 Indiana General Election: Meet the candidates for\u00a0Center Grove Community School BoardThe Center Grove Community School board is a five-member school board and all seats are At Large positions. Three of these seats are on the ballot. Toyota Tundra TRD Pro 2022 essai routier Essais routiers Auto123Auto123 met à l’essai le Toyota Tundra TRD Pro 2022, un monstre du hors route à système hybride. Pourra-t-il menace l’hégémonie des pickups américains ? Gartner IT Symposium/Xpo 2022 Orlando: Day 3 HighlightsSome of our favorite moments from Day 3 of Gartner IT Symposium/Xpo. Share your favorite moments from the day below 👇 For session highlights, visit: GartnerSYM Former White House deputy chief of staff Karl Rove and Fox News contributor Liz Peek predict the effectiveness of the Inflation Reduction Act on 'The Evening Edit. Car and Driver At the other end of the price spectrum is the Lexus LS500 AWD, which starts at $80,500.82 PHOTOS.FOX 10's Brian Webb reports. ' The U.S. Among the most expensive additions was the Executive package, with semi-aniline leather trim, massaging front seats, and power-reclining and massaging rear seats ($17,380). federal budget deficit fell by half for the 2022 financial year as once-aggressive pandemic relief spending dried up and receipts surged, the Treasury Department said on Friday. The gap between what the government spent and what it collected tumbled to $1. Options brought the as-tested price to $110,030.375 trillion at the end of September, down from the 2021 deficit of $2. 17, at a ballot drop box in Mesa, and the incident is one of a handful of incidents that have popped up in the days ahead of Election Day in November. 776 trillion. The G90's $99,795 base price accounts for virtually everything the S500 and the LS500 had—and in some cases more. "Today’s joint budget statement provides further evidence of our historic economic recovery, driven by our vaccination effort and the American Rescue Plan," Treasury Secretary Janet Yellen said in a statement. "It also demonstrates President Biden’s commitment to strengthening our nation’s fiscal health. Our mount arrived with but one option: Matte Gray paint ($1500)." Deficits in the past two years skyrocketed as Congress approved an unprecedented amount of spending to prop up the economy during the pandemic. Treasury Secretary Janet Yellen speaks during a news conference at the 2022 annual meeting of the International Monetary Fund and the World Bank Group, Oct. Hobbs is the Democratic Party candidate for governor, running against Republican Kari Lake to succeed incumbent governor Doug Ducey, who cannot run again due to term limits. 14, 2022, in Washington. (AP Photo/Manuel Balce Ceneta, File / AP Newsroom) Critics noted the bulk of the deficit reduction stemmed from the phasing out of COVID-19 relief spending, including the massive $1.9 trillion package that Democrats unanimously passed last year and that experts say contributed to the spending-fueled inflation spike in the U.S. The decline also would have been steeper if it were not for the Biden administration's student loan forgiveness plan: Education Department spending for the year totaled $639. However, Maricopa County Recorder Stephen Richer says knowing when election integrity becomes voter intimidation is not always cut-and-dry. 4 billion, $408 billion higher than the estimate. US RECESSION ODDS RISE TO 100% AS INFLATION SQUEEZES THE ECONOMY In September alone, the Education Department spent $445 billion, more than the combined monthly spending amounts from the Departments of Defense, Veterans Affairs, and Health and Human Services, plus the Social Security Administration. Activists hold signs as they attend a Student Loan Forgiveness rally on Pennsylvania Avenue and 17th street near the White House on April 27, 2022 in Washington, D.C. (Photo by Anna Moneymaker/Getty Images / Getty Images) The bulk of that money – about $430 billion – stemmed from .m.