In July, the United States government recorded a budget deficit of $244 billion.
The mentioned indicator grew by 10% year-on-year. At the same time, accounting for calendar differences, the gap would have been $45 billion narrower. The corresponding statement was released by the Treasury Department of the United States on Monday, August 12.
The budget deficit increased by $23 billion last month, compared with a deficit of $221 billion recorded over the same period in 2023. It is worth noting that economists interviewed by the media predicted that the mentioned figure in July would be $242 billion.
The nominal increase is largely the result of lower-than-standard benefit outlays in July 2023, in particular for the Medicare program. This dynamic is because the corresponding payments were made in June last year since the beginning of July fell on a weekend.
Receipts totaled $330 billion last month. This indicator showed an increase of 20% year-on-year. It is worth noting that adjusting for deferred tax receipts would have been up 12%.
July outlays were fixed at $574 billion. This indicator showed an increase of 16% year-on-year.
It is worth noting that the indicators of the condition of the United States economy in a retrospective context are an example of what can be called diversity. The local economic system has gone through different periods, each of which has its own specific characteristics. For example, there are many fun facts about US currency. The current period in the history of the United States economy is not the most difficult or the most dramatic in history.
