U.S. Government Ran $97.6 Billion Deficit in July

WASHINGTON — The federal government ran a $97.6 billion deficit in July, the Treasury reported Monday.

The deficit followed a $116.5 billion surplus in June and was close to the median $96 billion deficit projected for July by economists polled by Thomson Reuters.

A Treasury official said that the deficit was related to the fact that there are no major tax due dates in July. The month usually has deficits, with deficits occurring in 57 of the last 59 Julys.

Outlays in July totaled $297.6 billion, compared to $170.1 billion in June. Receipts totaled $200 billion in July, compared to $286.6 billion for the previous month.

In July 2012, the government ran a $69.6 billion deficit.

Year to date, there is a $607.4 billion deficit, compared to a $974 billion deficit for the same period last year.

Year-over-year changes to July and to fiscal year-to-date results were impacted by timing-related transactions, Treasury said. Taking into account calendar adjustments, the July 2013 deficit would be $105 billion, the same as in July 2012. The adjusted fiscal year to date deficit through July 2013 is $615 billion, compared with a $1 trillion fiscal year to date deficit through July 2012.

For reprint and licensing requests for this article, click here.
MORE FROM BOND BUYER