CBO reports small improvement on budget deficit


Individual tax revenue role by 29 percent for the first eight months of 2011, attributable in part to increased hiring.

But overall in 2011, spending was up by 6 percent compared to 2010 although if you exclude payments to TARP and to the Federal Deposit Insurance Corporation, then spending outlays were up 1 percent for the first 8 months of this year. 

Outlays differ from budget authority since outlays reflect money budgeted in previous years. Under a budget deal between Congress and the White House, budget authority was cut for 2011 by about $40 billion.