US Treasury Budget is Shrinking.... the Economy.?.

Intraday Economic News: U.S. Treasury Budget Posted A $43.1 Billion Deficit For June

The U.S. Treasury budget deficit was $43.1 billion in June, narrower than the $68.4 billion deficit seen in June 2010 and the $65.5 billion that the consensus expected. Receipts edged down 0.6% over last June to $249.7 billion, and outlays fell 8.4% from a year ago to $292.7 billion. The deficit now stands at $970.5 billion for the first nine months of the fiscal year, also narrower than the $1.004 trillion deficit for the first nine months of fiscal year 2010. The deficit was narrower than expected and good news, though markets largely overlooked it, focusing on Bernanke's comments and news on whether the U.S. government will allow the debt ceiling to be raised.

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