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)

Latest Headlines

in Entertainment

Today in entertainment history: Nov. 27

beatles

A look at some of the Hollywood headlines that made history.

in Black Friday, Entertainment

‘TIS THE SEASON: Holiday specials airing this week

Frosty the Snowman

Here's a look at Christmas classics and new holiday favorites airing this weekend.

in Black Friday, Entertainment, National

Obama pardons ‘Cheese,’ America’s top turkey

turkeypardon

The President pardoned the official Thanksgiving turkey in a tradition that is truly American.

in Entertainment

Harrison Ford signs on to ‘Blade Runner’ sequel

harrisonford

The actor will reprise his 1982 role as bounty hunter Rick Deckard.

in Black Friday, Entertainment

Sting, ‘Sesame Street’ set for Macy’s parade

thanksgiving

KISS, Miss USA Nia Sanchez, Nick Jonas, and Idina Menzel are also set to take part in the 88th annual parade.