WASHINGTON — The federal government ran a $130.0 billion budget deficit in May, the Treasury reported Wednesday.
The deficit followed a $106.9 billion surplus in April.
Outlays in May totaled $329.9 billion, compared to $307.4 billion in April. Receipts totaled $199.9 billion in May, compared to $414.2 billion for the previous month.
Fiscal year to date, there was a $436.4 billion deficit, compared to a $626 billion deficit for the same period last year. The federal government's 2014 fiscal year began Oct. 1.
In May 2013, the government ran a $138.7 billion deficit. A Treasury official said that 59 of the last 60 Mays had deficits because there are no significant tax due dates in the month.
Year-over-year changes to May and to fiscal year-to-date results were impacted by timing-related transactions, Treasury said. Taking into account calendar adjustments, May 2014 would have had an $87 billion deficit, which is $19 billion less than the adjusted deficit in May 2013. The adjusted fiscal year to date deficit through May 2014 is $391 billion, compared to an adjusted $594 billion fiscal year to date deficit through May 2013.
