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 Entertainment

‘Home’ tops weekend box office

Fresh
home

Jennifer Lopez and Rihanna's new animated movie raked in $54 million this weekend.

in Sports

MLB Spring Training: Pitching decisions made

Fresh
indians

Zach McAllister and T.J. House have won the two open jobs in the Cleveland Indians' starting rotation.

in Sports

Monday’s Sports Minute

Fresh
cavs

A look at some of the big sports stories making headlines today, Monday, March 30.

in Entertainment

Hugh Jackman is done with ‘Wolverine’

Fresh
Hugh Jackman

Jackman has played Wolverine for the past 15 years, including two stand-alone sequels.

in Music

Brian May denies Sacha Baron Cohen will star in Freddie Mercury biopic

Fresh
sachabaroncohen

The Queen guitarist slammed reports that the "Borat" star is back on board with the biopic.