Business Briefs: U.S. on pace for lowest budget deficit since 2008

July 12, 2014 

FILE: John Pasha, center, is the senior vice president of Pasha Automotive Services. The automotive processor brought executives from around the country to Port Manatee in November 2013 to help partner with Pasha's planned facility at the port. Photo provided

WASHINGTON -- The U.S. government ran a monthly budget surplus in June, putting it on course to record the lowest annual deficit since 2008.

The Treasury Department says the June surplus totaled $71 billion, following a $130 billion deficit in May.

The government also ran a surplus in June 2013, bolstered by dividends from Fannie Mae, the mortgage giant under federal conservatorship for the past six years.

For the first nine months of this budget year, the deficit totals $366 billion, down 28 percent from the same period in 2013.

Tax receipts are up 8 percent compared to the prior year-to-date, while spending has increased 1 percent.

The Congressional Budget Office is forecasting a deficit of $492 billion for the full budget year ending Sept. 30.

Chrysler recalls 651,000 Jeep and Dodge SUVs

NEW YORK -- Chrysler says it is recalling 651,000 Jeep and Dodge SUVs in the U.S. because vanity mirror lights that have undergone repairs can short circuit and start a fire if not reassembled correctly.

The recall is for certain 2011 to 2014 Jeep Grand Cherokee and Dodge Durango models.

Chrysler says it has seen the problem only in lighted sun visor mirrors that have been repaired. But as a precaution, it says the recall applies to all of the vehicles.

The automaker says it knows of three injuries caused by the lighted mirror.

Chrysler will contact customers and let them know when they can have the problem fixed.

The recall will total 895,000 SUVs around the world. About 45,000 are in Canada, 23,000 are in Mexico and 175,000 are outside North America.

Amazon wants to test delivery drones outdoors

Online retailing giant Amazon wants permission from the Federal Aviation Administration to test speedy delivery drones in the Seattle area.

Amazon wants an exemption from FAA rules that say businesses can test drones only indoors, saying it needs to conduct research flights for its experimental and not-yet-functioning delivery system, Amazon Prime Air, in the outdoors.

The company said in a letter to the FAA it has been experimenting indoors with aerial vehicles that can reach speeds of 50 mph and deliver 5-pound packages to customers in 30 minutes or less.

"One day, seeing Amazon Prime Air will be as normal as seeing mail trucks on the road today, resulting in enormous benefits for consumers across the nation," said Paul Misener, an Amazon vice president, in the letter.

In the letter, Amazon says it wants to be subject to the same regulation as hobbyists and manufacturers of model aircraft, groups that are allowed to fly outdoors.

-- Herald wire reports

Bradenton Herald is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere in the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

Commenting FAQs | Terms of Service