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 Viral Videos, Weird

Police issue tickets for pizza, French fries

17-overlay2

Police in one New Hampshire town are rewarding residents for doing the right thing.

in Music

Carrie Underwood is a mom

carrieunderwoodmikefisher

The singer welcomed her first child with husband Mike Fisher.

in Viral Videos

‘Fifty Shades of Wayne’ replaces Christian Grey with Batman

22-overlay

We think the Dark Knight should be cast in the sequel.

in Lifestyle

Google wants you to zip line through the Amazon

googleamazon

Wanna go on a zip line without all the harnesses and fear? Just hook your browser through to Google.

in Music

Miranda Lambert, touring partners get matching tattoos

mirandalambert

The country star gets a permanent reminder of her time on the road.