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Wednesday, June 18, 2014 – 10:30 a.m.

Here’s some news flowing across the transom Wednesday morning, in case you missed it!

U.S. revenues hit all-time record, still running deficit

The amount of money the U.S. Government took in, through the month of May, has hit a new record of $1.93 trillion.

However, even with all the new tax revenue, the country still runs a deficit of $436 billion.

Here’s the Monthly Treasury Statement.

New housing starts drop

Homebuilders started construction on 1.01 million units in May. The number is down 6.5% from April.

The developemnt is a sign that prosepctive buyers are having a hard time re-qualifying for financing. It looks like the housing market will not be as robust as first believed.

U.S. inflation spikes in May

May was not a good month for government-published inflation numbers.

Remember this is the government reporting this. Real inflation, especially commodity prices, is obviously much higher. It’s the biggest jump in 15-months. It’s also above the Federal Reserve target.

The economy contracted by 1.0% in the 1st Quarter, and inflation is climbing.