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WASHINGTON, Jan. 11 (Xinhua) -- The U.S. federal government ran a budget deficit1 of 260 million U.S. dollars in December, the Treasury2 Department figures revealed Friday.
The federal government raked in a revenue of 269.5 billion dollars in December, up 12 percent from the level of December 2011, while spending 269.7 billion dollars, down 17 percent from December 2011, said the department.
The budget gap for the first three months of the 2013 fiscal3 year, which began on Oct.1, totaled 292 billion dollars, 9 percent lower than in the first three months of the prior fiscal year.
The U.S. federal government budget deficit reached 1.1 trillion dollars in the 2012 fiscal year ending in September, surpassing the 1-trillion-dollar mark for the fourth straight year.
The White House and Congress struck a deal last week to avoid the "fiscal cliff," a combination of the year-end tax hikes and automatic spending cuts. The last-minute agreement would raise taxes on the wealthiest 2 percent of Americans and allow a payroll4 tax cut of 2 percentage points to expire. The deal also postponed5 for two months the implementation6 of spending cuts that were originally scheduled to take effect in January.
The U.S. federal government technically7 reached its borrowing limit on Dec. 31. Treasury Secretary Timothy Geithner told the Congress last month that the Treasury Department would take " extraordinary measures" to create about 200 billion dollars of " headroom" to avoid a possible default.
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1 deficit | |
n.亏空,亏损;赤字,逆差 | |
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2 treasury | |
n.宝库;国库,金库;文库 | |
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3 fiscal | |
adj.财政的,会计的,国库的,国库岁入的 | |
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4 payroll | |
n.工资表,在职人员名单,工薪总额 | |
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5 postponed | |
vt.& vi.延期,缓办,(使)延迟vt.把…放在次要地位;[语]把…放在后面(或句尾)vi.(疟疾等)延缓发作(或复发) | |
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6 implementation | |
n.实施,贯彻 | |
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7 technically | |
adv.专门地,技术上地 | |
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