U.S. budget deficit falls to $95 billion in July

WASHINGTON Tue Aug 12, 2014 2:06pm EDT

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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 on Tuesday.

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)

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Comments (17)
Bob9999 wrote:
That’s really great. But it’s still a rate of deficit of more than $1 trillion a year.

Aug 12, 2014 2:23pm EDT  --  Report as abuse
CSParty wrote:
So we are on pace for another $800 Billion plus deficit? This is good news?

Aug 12, 2014 2:31pm EDT  --  Report as abuse
gcf1965 wrote:
This one month obama deficit is only a little less than GWs deficit for all of 2007, even with 2 wars and an economy in the early stages of the DNC destruction. 2 years later under obama it was almost 9 times higher and here we are another 5 years in on track for a trillion or so deficit and NOTHING to show for it. Notice all the comparison done in the article is obama vs obama. GWs HIGHEST deficit, after the DNC took over congress, was still more than 50% lower than obama’s LOWEST to date.

Aug 12, 2014 3:23pm EDT  --  Report as abuse
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