News

Budget deficit falls to $95B

Budget deficit falls to $95B

BUDGET: The fiscal year-to-date deficit at the end of July was $460 billion, the lowest level since the same period in fiscal year 2008, compared with a deficit of $607 billion for the same period in fiscal year 2013, according to Treasury's monthly budget statement. Photo: clipart.com

By Elvina Nawaguna

WASHINGTON (Reuters) – The U.S. budget deficit was $95 billion at the end of July, down 3 percent from the same period last year, according to data released by the Treasury Department.

Analysts polled by Reuters had expected a $96 billion deficit for last month. The deficit was $98 billion in July of 2013.

The fiscal year-to-date deficit at the end of July was $460 billion, the lowest level since the same period in fiscal year 2008, compared with a deficit of $607 billion for the same period in fiscal year 2013, according to Treasury’s monthly budget statement.

Last month’s budget results were affected by differences in the calendar. If adjusted for timing-related transactions, the budget deficit in July would have been $86 billion.

Receipts last month totaled $211 billion, up 5 percent from the year-ago period, bringing the fiscal year-to-date total receipts to $2.47 trillion.

Outlays last month totaled $305 billion, up 3 percent from July 2013, for a fiscal year-to-date total of $2.93 trillion.

(Reporting by Elvina Nawaguna; Editing by Paul Simao)

Recent Headlines

in Election 2014, Local

Libertarian Gov. Candidate to Stay on November Ballot

Fresh
chad_grimm

A Sangamon County judge on Thursday rejected the Republican Party's attempt to have a Libertarian candidate for Illinois governor struck from the Nov. 4 ballot.

in Election 2014, Local

Rauner: Ethics Problems Are Quinn’s, Not Mine

Bruce Rauner (R), Pat Quinn

Rauner's firm owned a company which settled fraud charges with Georgia

in Local

CO Detectors Are Not Required in Schools

carbon_monoxide

After North Mac, expect legislation

in Local

Girl, 3, Safe after Abduction

police_lights

Mom, who has neither custody nor visitation rights, is jailed

in Local

Meat “Harvest” Facility, Market Denied Zoning Variance

municipalcenter

Springfield Planning and Planning Commission turns back request on a 4-3 vote