US Surpasses Entire 2018 Budget Deficit With Two More Months To Go In 2019

Posted on August 12, 2019 4:08 pm

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There were no surprises in the US budget deficit for July, the 10th month of fiscal 2019: it came in just as consensus had expected, at $120 billion, and about 55% higher than the $76.9BN deficit reported in July 2018. This was the 2nd biggest July deficit in the past 8 years…

…  and was the result of $251BN in government receipts in July, up 11.6% from the prior year, however offset by $371.0BN in government outlays, a rate of increase double