US Federal deficit declined to $43 billion in June

According to the recent publication of the Monthly Treasury Statement, the US government deficit reached in June 2011 $43.08 billion; this is a 25% decrease from the $57.641 billion deficit recorded in May 2011, and a decrease of 37% from the June 2010.

The current deficit in the fiscal year of 2011is $970 billion, which is slightly lower than the $1,004.43 billion deficit recorded during the same time span in 2010. There was a sharp rise in revenues by 8.5% in 2011 compared with 2010’s that put a small dent in the deficit growth. On the other hand, there was an increase in expediters by nearly 4% in 2011 compared with the parallel time in 2010 that curbed the drop in deficit.

Nonetheless, at the current rate the 2011 fiscal year might end with a $1.2 trillion deficit, which is still high and represents nearly 8% of its GDP.

Current gold price, short term futures (August 2011 delivery) is traded at $1,599.9 per t oz. a $9.8 increase or 0.62%, as of 11:21*.

Current Nymex crude oil price, short term futures (August 2011 delivery) is traded down by 0.37% to $96.88 per barrel as of 11:26*.

Euros to US dollar exchange rate is currently traded down at 1.4041 a 0.8183% decrease as of 11:32*.


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