by Frank Shostak
The US budget had a deficit of $32.6 billion in January compared with a deficit of $13.3 billion in December and a surplus of $8.7 billion in January 2019. The yearly growth rate of government outlays rose by 22.2 percent in January from 7 percent in the month before and 6.7 percent in January of last year.
The yearly growth rate of government revenues climbed to 9.5 percent last month from 7.4 percent in December and –5.8 percent in January the year before. Note that the twelve-month moving average (12mma) of the budget displays a visible widening in the deficit (see chart).