No U.S. Deficit in December 2012

The U.S. has done a good job in the month of December 2012. Its outlays of $270 billion were fully absorbed by receipts of $270 billion which makes the December 2012 deficit zero (Chart 1).

I think most of this is due to the fact that the debt ceiling was reached in December, so the U.S. couldn't spend as much money as it could.

Chart 1: Deficit to Outlay Ratio U.S.