US Government Has Record Breaking Collections In April

According to the Treasury Department the government collected a total of $1.505 trillion so far in 2007. This represents an increase of 11.2% over the same period last year. Included is $383.6 billion that was collected in April, the largest single month tax collection ever. In the beginning of the year government spending was at an all time high, but the total spending of $1.585 billion was only up 3.2% from last year. The Congressional Budget Office said it expects the total deficit for 2007 to total between $150 and $200 billion. This would be a significant decrease from last year's deficit of $248.2 billion.
Source: CBS News