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 Local

Springfield Aldermen Want to Keep Pay Flat

municipalcenter

The Springfield City Council doesn't think it, or other elected officials, should get pay raises.

in Local

Rail “Flyover” Planned Between Stanford & I-72, Though Work Still Years Away

railroad

The planning to alleviate a major freight rail traffic bottleneck is wrapping up.

in Local

Appellate Court Agrees AFSCME Workers Owed Money

afscme

An Illinois appellate court has ruled that back wages owed thousands of state government workers from 2011 to 2013 must be paid.

in Local

Boys and Girls Club Awarded Grant

boys girls club

Facility was close to shutting its door a few years ago

in Local

Man Arrested for Domestic Stabbing

knife

A Springfield man is in jail following a stabbing early Tuesday morning on Stevenson Dr.