Report: Federal government paying down debt

Posted on: 7:19 am, April 30, 2013, by , updated on: 11:22am, April 30, 2013

money

RICHMOND, Va. (WTVR) – The federal government is working to pay down the national debt. According to CBS News, it is the first time in six years, that this has happened.

The treasury predicts about $35 billion in debt will be paid off this quarter.

The reasons behind the move – economists say – a new payroll tax addition this year.

Also, the economy is currently growing at a steady pace.