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: March 27

beatles

A look back on Hollywood headlines of years past.

in Music

Taylor Swift named among world’s greatest leaders in new Fortune poll

Singer Taylor Swift attends the SNL 40th Anniversary Special at Rockefeller Plaza on Sunday, Feb. 15, 2015, in New York.

Taylor Swift ranks two spots behind Pope Francis in a new Fortune.com poll of the World's Greatest Leaders.

in Entertainment

‘Downton Abbey’ to end after season six

This photo released by PBS and Carnival Film and Television Limited shows, from left, Lesley Nicol as Mrs. Patmore, and Sophie McShera as Daisy, in a scene from season four of the Masterpiece TV series, "Downton Abbey." As it returns for its much-awaited fourth season, it remains a series about elegance, tradition and gentility, and the pressures of preserving them. The show premieres Sunday, January 5, 2014 at 9 pm ET on PBS.

Producers confirm that the next season of "Downton Abbey" will be the last.

in Music

Luke Bryan joins the Chicago White Sox

Luke Bryan poses in the press room with the award for entertainer of the year at the 48th annual CMA Awards at the Bridgestone Arena on Wednesday, Nov. 5, 2014, in Nashville, Tenn.

Luke Bryan joined the Chicago White Sox for spring training in Arizona.

in Music

Jana Kramer defends home state after Madonna criticism

The Academy of Country Music hosts a free all star concert for fans as country music artist Jana Kramer performs at the ACM Fremont Street Experience on Saturday, March 31, 2012, in Las Vegas.

Jana Kramer steps up to defend Michigan after Madonna slammed their home state in interviews.