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Why trouble for the biggest foreign buyer of U.S. debt could ripple through
America’s bond market
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Developments in Japan are creating a risk that investors in the U.S.
Treasury market may one day pull the rug out by keeping more of their
savings at home.
26 minutes ago
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A big reason was the jump in corporate tax receipts, which rose a whopping 34%. CBO attributes the increase in large part to a change in tax rules, particularly those that govern how fast companies can write off equipment costs.
Individual income tax and payroll tax receipts were also higher, by 3% and 4%, respectively.
Spending, meanwhile, fell 2%. That decline, however, is due mostly to shifts in the timing of payments, CBO said.
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