US Budget Deficit Declines to $82.4 Billion in May


The United States posted a budget gap of $82.4 billion in May, a 37 percent drop from the same period last year as revenues rose and spending declined.

The May deficit was 82.4 billion dollars, down from a deficit of 130 billion in May 2014. Receipts reached 212 billion dollars, up 6 percent from the same period last year, while outlays were 295 billion, down 11 percent. Last year's deficit was inflated because June 1 fell on a Saturday, requiring the government to mail out 35 billion dollars in June benefit payments in May of last year. The government has run a deficit in May for 60 of the past 61 years. 

The deficit for the first eight months of 2015 fiscal year which began October 1st was 365 billion dollars, down 16.3 percent from a gap of 436 billion dollars reported in the same period a year earlier. The receipts were up 8.6 percent to 2.1 trillion dollars for the period October through May while outlays increased 4 percent to 2.47 trillion dollars. In April, the revenues reached 156.7 billion dollars an all-time monthly high, boosted by a flood of tax payments.



US Budget Deficit Declines to $82.4 Billion in May


US Treasury Department | anna@tradingeconomics.com
6/10/2015 11:30:48 PM