WASHINGTON, Dec. 11 (Xinhua) -- The U.S. federal government registered a budget deficit of about 135.2 billion U.S. dollars in November, the second month of the 2014 fiscal year, the U.S. Treasury Department said Wednesday.
The federal government raked in a revenue of 182.5 billion dollars last month, about 12.8 percent higher than the year-ago level.
Spending totaled 317.7 billion dollars, compared with 333.8 billion dollars a year earlier. Higher revenue and lower spending resulted a budget gap 21.4 percent lower than November 2012.
The combined budget deficit in the first two months of the current fiscal year totaled 226.8 billion dollars, 22 percent lower than the imbalance for the same period of the 2013 fiscal year.
Budget negotiators in the U.S. Congress reached an agreement Tuesday on a two-year budget plan, eliminating threat of a government shutdown on Jan. 15 when the existing funds expire. The plan sets spending levels above 1 trillion dollars for both 2014 and 2015 fiscal years while replacing part of the automatic spending cuts with some spending savings. It must be approved by both the House of Representatives and the Senate.
As revenue increased and spending dwindled, the U.S. federal government budget deficit narrowed to 680 billion dollars for the 2013 fiscal year ending September, the smallest in five years.
Obama welcomes bipartisan budget deal
WASHINGTON, Dec. 10 (Xinhua) -- Chief budget negotiators in the U.S. Congress struck a budget agreement on Tuesday, avoiding a looming government shutdown on Jan. 15.
President Barack Obama welcomed the bipartisan effort, and the Senate and the House are expected to vote on the proposed deal within days. Full story
U.S. Congress negotiators reach budget deal
WASHINGTON, Dec. 10 (Xinhua) -- Chief budget negotiators in the U.S. Congress said Tuesday that they have struck a two-year deal to avoid a government shutdown on Jan. 15.
Senate Budget Committee Chairman Patty Murray and House Budget Committee Chairman Paul Ryan, the top lawmakers on budgetary issues in their respective chambers, announced the deal at a news conference on Capitol Hill. Full story
Top U.S. Republicans line up behind bipartisan budget deal
WASHINGTON, Dec. 11 (Xinhua)-- U.S. House Speaker John Boehner on Wednesday dismissed criticism from some conservative groups which attacked the newly announced bipartisan budget deal before it was unveiled.
"You mean the groups that came out and opposed it before they even saw it," Boehner said, in response to a question about the conservatives' opposition against the budget deal crafted by House Budget Committee Chairman Paul Ryan and Senate Budget Committee Chairman Patty Murray. Full story