Braking Down The News

Federal Budget Deficit Narrowed in July

The government ran a deficit of $211 billion as revenue rose 3%

10

WASHINGTON—The federal deficit narrowed by 30% in July compared with a year earlier, as the government reported a $211 billion monthly gap between revenue and spending.

The drop in the deficit this year is the product of the end of a burst of federal spending last year and rising government revenue this year. Government outlays fell 15% to $480 billion in July after programs administered last year such as expanded unemployment benefits ended, the Treasury Department said Wednesday. Government revenue, not adjusted for calendar differences, rose 3% to $269 billion.

 

Continue Reading…

 

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More