WASHINGTON – The federal government posted a $68.4 billion deficit in June, a smaller deficit than economists estimated, as the fiscal 2010 year to date deficit topped $1 trillion, the Treasury Department reported today.
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Outlays totaled $319.5 billion, the highest for the month of June on record. For the federal fiscal year, which started Oct. 1, through June, the government spent $2.6 trillion, or 23.8% of gross domestic product.
Receipts for June totaled $251 billion and the 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.
