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, Sports

Was ‘Concussion’ altered to avoid angering the NFL?

Fresh
10-overlay1

Hacked Sony emails appear to show that the m arketing plans for the movie were positioned to focus on the story of a whistle-blower, rather than a condemnation of the sport.

in Viral Videos

How to make work better

Fresh
21-overlay3

Some of these tips are actually helpful ... but mostly they're just hilarious.

in Music

Akon ordered to pay $245K repo bill

akon

The "Locked Up" hitmaker has some big time money troubles.

in Music

No Auto-Tune: Watch T-Pain sing a moving rendition of the ‘Star Spangled Banner’

16-overlay4

The R&B hitmaker opened Monday night's Dodgers game in pure patriotic style.

in Music

Kelis is expecting her second child

kelis

The "Milkshake" hitmaker has a new book coming out and a baby on the way.