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 Sports

Steph Curry defeats LeBron James again

Fresh
currylebron

Curry's jersey is the top seller for the first time.

in National, World

Officials warn of potential July 4th terror attacks

Fresh
24-overlay1

Federal authorities are stepping up security and asking Americans to be vigilant ahead of the holiday weekend.

in National

Home prices climbing steadily amid stronger demand

Fresh
realestate

The average purchase price rose by 4.9 percent, according to the latest figures.

in Sports

Ex-NFL player tackles overgrown field for kids

Fresh
15-overlay2

Reggie McKenzie has been hosting a youth football camp for more than 40 years but when his namesake field near Detroit became neglected, McKenzie did what he's always done: he tackled it.

in National

Bet you didn’t know: Fun facts about the Fourth

13-overlay

Even the most patriotic among us can learn something from these little-known facts about Independence Day.