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

3 hours ago in Entertainment

Pitch, please: Julia Robert ‘sells’ sex toys on ‘Ellen’

25-overlay-10

The "Pretty Woman" star, who plays a host on the Home Shopping Network (HSN) in her new movie "Mother's Day," was tasked with gushing about a blind item, which members of the studio audience could see.

4 hours ago in Viral Videos

WATCH: Annoying Windows reminder interrupts live TV report

20-overlay-12

Please excuse this interruption ...

7 hours ago in Sports, Weird

Shall I compare thee to a carburetor? Indy 500 gets a poet

indy500383817720211

An Indiana University student who is a poet and a performer has been named the Indianapolis 500's first official poet since the early 20th century.

8 hours ago in Entertainment

REVIEW: ‘Green Room’ is a gory, good time

13-overlay-12

It's lean, mean, loud and grisly, and a ton of bloody fun.

8 hours ago in Entertainment

Appeals court to hear ex-Subway pitchman’s appeal May 20

jaredfogleAP

A federal appeals court in Chicago has set a May hearing for former Subway pitchman Jared Fogle's appeal of his more than 15-year sentence in a child sex abuse and pornography case.