WASHINGTON — The federal government posted a $68.4 billion deficit in June, which was smaller than economist estimates, as the year-to-date deficit for fiscal 2010 topped $1 trillion, the Treasury Department reported yesterday.
Outlays totaled $319.5 billion, the highest June tally on record. The government has spent $2.6 trillion, or 23.8%, of gross domestic product so far this fiscal year, which began Oct. 1. Receipts for June totaled $251 billion, and year-to-date receipts totaled $1.6 trillion.
Economists expected a $70.0 billion federal budget for the month, according to the median estimate from Thomson Reuters. The federal government has had 21 consecutive months of deficits.