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

Today in entertainment history: April 21

dolly

A look at the news making Hollywood headlines in years past.

in Entertainment

Roseanne Barr says she’s going blind

roseanne

The "Roseanne" star, 62, says her "vision is closing in now."

in Sports

26.2 miles, 28,000 bananas: Boston Marathon by the numbers

11-overlay7

More than 30,000 runners and nearly $1 million in prize money. Here's the iconic race by the numbers.

in Viral Videos

WATCH: A proposal from the dog’s POV

15-overlay7

Who needs a selfie stick when you've got man's best friend?

in Music

Oops! Kirk Hammett loses cell phone with Metallica album ideas

kirkhammett

The lead guitarist is devastated after losing a phone containing more than 200 album ideas.