Federal Deficit Reduced
Citing a surge in tax revenues, the federal government on Friday posted a deficit of $319 billion in fiscal 2005, down $94 billion from the previous year's record.
The gap for fiscal 2005 was equal to 2.6% of gross domestic product, slightly above the 40-year average of 2.3%. The 2004 deficit was equal to 3.6% of GDP in fiscal 2004.
Our budget deficit percentage of GDP is lower than most Eurozone countries, why is the dollar @ 1.20 per Euro?
The gap for fiscal 2005 was equal to 2.6% of gross domestic product, slightly above the 40-year average of 2.3%. The 2004 deficit was equal to 3.6% of GDP in fiscal 2004.
Our budget deficit percentage of GDP is lower than most Eurozone countries, why is the dollar @ 1.20 per Euro?
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