Nine-month federal gov't deficit $905 bln: CBO - MarketWatch

Nine-month federal gov't deficit $905 bln: CBO - MarketWatch

 The federal government deficit through June is an estimated $905 billion after a 5% revenue increase and a 1% outlay rise compared to the same period last year, the Congressional Budget Office estimated Monday. In the prior year's nine months of the fiscal year, the federal government ran a $971 billion deficit. The largest gain in revenue came from a 31% jump in corporate income taxes, mostly because of a change in the rule on how quickly firms may deduct the cost of investments in equipment.