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 News

in Entertainment, Sports

The best #ChevyGuy tweets from the World Series

Fresh
bumgarner

As the MVP of the 2014 World Series, Madison Bumgarner was awarded a new truck with "technology and stuff" by a very nervous Chevy employee and Twitter took notice.

in Music

Metallica to play late-night residency

Fresh
metallica

The rockers have booked a week-long gig on Craig Ferguson's "The Late Late Show."

in Entertainment, Viral Videos

WATCH: Ice Cube teaches Elmo a new word

Fresh
11-overlay2

There was a time when parents would have freaked out to hear their kids were learning words from Ice Cube.

in Trending, Viral Videos

TODAY’S MUST SEE: Daniel Radcliffe ‘raps’ the alphabet

Fresh
17-overlay3

The "Harry Potter" star performs the tongue-twisting "Alphabet Aerobics" and it's hilarious.

in Music

Tony Iommi composes new track for ‘CSI’

Fresh
tonyiommi

The Black Sabbath star has written a new song for one of his favorite TV shows.