The US deficit stood at $88 billion in October, the first month of the fiscal year 2023, much below the $165 billion shortfall reported in the comparable period of the previous fiscal year. Individual income taxes increased from $143 billion to $175 billion, while corporate income taxes were slightly down. Defense spending increased from $65 billion to $73 billion, while outlays to the Department of Health declined from $120 billion to $87 billion. Additionally, outlays to the Department of Veterans Affairs and the Small Business Administration declined from $34 billion to $20 billion and from $2.3 billion to $290 million. Finally, payment on interest on Treasury debt securities increased from $19 billion to $47 billion. source: Financial Management Service, US Treasury

Government Budget Value in the United States averaged -26720.87 USD Million from 1954 until 2022, reaching an all time high of 308215.00 USD Million in April of 2022 and a record low of -864074.00 USD Million in June of 2020. This page provides - United States Government Budget Value - actual values, historical data, forecast, chart, statistics, economic calendar and news. United States Government Budget - data, historical chart, forecasts and calendar of releases - was last updated on December of 2022.

Government Budget Value in the United States is expected to be -80000.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Government Budget is projected to trend around 50000.00 USD Million in 2023 and -10000.00 USD Million in 2024, according to our econometric models.

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United States Government Budget



Calendar GMT Actual Previous Consensus TEForecast
2022-10-21 02:30 PM Sep $-430B $-220B $-173.5B $ -230B
2022-11-10 07:00 PM Oct $-88B $-430B $-90B $-110B
2022-12-12 07:00 PM Nov $-88B $-95B


Related Last Previous Unit Reference
Government Budget Value -88000.00 -430000.00 USD Million Oct 2022

United States Government Budget
Federal Government budget balance is the difference between budget receipts (income) and budget outlays (spending). A budget surplus is expressed as a positive value. A budget deficit is expressed as a negative value.
Actual Previous Highest Lowest Dates Unit Frequency
-88000.00 -430000.00 308215.00 -864074.00 1954 - 2022 USD Million Monthly
Current Prices, NSA

News Stream
US Fiscal Deficit Narrows to $88 Billion
The US deficit stood at $88 billion in October, the first month of the fiscal year 2023, much below the $165 billion shortfall reported in the comparable period of the previous fiscal year. Individual income taxes increased from $143 billion to $175 billion, while corporate income taxes were slightly down. Defense spending increased from $65 billion to $73 billion, while outlays to the Department of Health declined from $120 billion to $87 billion. Additionally, outlays to the Department of Veterans Affairs and the Small Business Administration declined from $34 billion to $20 billion and from $2.3 billion to $290 million. Finally, payment on interest on Treasury debt securities increased from $19 billion to $47 billion.
2022-11-10
US Fiscal Position Records Largest-Ever Improvement
In the 2022 fiscal year, the US budget deficit reached $1.375 trillion, compared with the $2.772 trillion reported in 2021. The $1.397 trillion reduction in the deficit was the largest-ever single-year improvement in the US fiscal position as receipts jumped 21% to a record of $4.896 trillion fueled by a hot economy. Meanwhile, outlays for fiscal 2022 fell by a record $550 billion, or 8% to $6.272 trillion as Covid-19-related spending declined. Still, in September only, the budget deficit widened to $430 billion from $65 billion in the corresponding month of the previous year, well above market expectations of a $173.5 billion gap. Receipts grew by 6.1% to $488 billion, while outlays soared by 75% to $917 billion mainly due to the student loan forgiveness program. In past years, September was often a surplus month due to quarterly corporate taxes payments.
2022-10-21
US Budget Gap Widens Sharply in August
The US government budget deficit widened by 29% to USD 220 billion in August of 2022 from USD 171 billion in the corresponding month of the previous year, slightly higher than market expectations of a USD 214 billion gap. It was the biggest monthly budget deficit in over one year as higher spending on education, health services and interest on the public debt more than offset a double-digit increase in revenues. Outlays rose by 19% to USD 523 billion, marking the second growth in spending since the fiscal year started in October 2021. In the meantime, receipts grew by a softer 13% to USD 304 billion amid a sharp increase in individual income tax withholdings. The US federal deficit fell by 65% to USD 946 billion in the eleven months of the 2022 fiscal year.
2022-09-13