US federal budget deficit for July -$244.00 billion versus -$242.00 billion estimate

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  • U.S. July budget deficit: $244 billion, up 10% from a year earlier.
  • Adjusted deficit would be $45 billion narrower due to calendar differences.
  • Deficit increase mainly due to lower benefits outlays last July.

Receipts and outlays

  • July receipts: $330 billion, up 20% year-over-year; adjusted increase: 12%.
  • July outlays: $574 billion, up 16%; adjusted outlays would be 1% lower.
  • Interest on debt: $89 billion, up 21%; average interest rate: 3.33%. Interest costs are 32% higher than last year
  • Spending on Social Security are up 6%

Year-to-date:

  • Fiscal 2024 year-to-date deficit: $1.517 trillion, down 6% from fiscal 2023.
  • Year-to-date receipts: $4.085 trillion, up 11%.
  • Year-to-date outlays: $5.602 trillion, up 6%.

This article was written by Greg Michalowski at www.forexlive.com.



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