Charts of the Week
U.S. Treasury Budget
Chart of the Week for September 14, 2018 - September 20, 2018
The U.S. Department of Treasury publishes the Treasury Budget monthly, which is commonly known as the Budget Deficit. The Budget Deficit is an account of surplus or deficit funds of the U.S. government that is compiled from monthly accounting reports from Federal entities and daily reports from the Federal Reserve Banks. The chart above shows the Budget Deficit for the past year.
The monthly Budget Deficit can vary due to factors such as tax receipts and timing of payments, but for the past year it has generally been in a deficit position. The August deficit was -$214.1 billion, an increase from July's -$76.9 billion. The cumulative fiscal year deficit (October 2017-August 2018) stands at -$898.1 billion, an increase from the same period last year of -$673.7 billion. Comparing the same periods, cumulative revenues were up 0.6%, but cumulative spending was up 6.7%. Some economists note that the August 2018 Budget Deficit may be inflated because some September benefit payments were paid in August as September 1 fell on a Saturday. Economists also note that further tax cuts that are currently being discussed could cause the Budget Deficit to grow larger going forward.
Posted by: sarah_oz@yahoo.com
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