US Budget Deficit Narrows 50% in August

The United States recorded a budget gap of $64.4 Billion in August of 2015, much lower than a $128 billion deficit a year earlier as the receipts increased 8.8 percent to $211 billion and outlays fell 14.9 percent to $275 billion.

It is the lowest budget gap for any August month since 2005 due to drop in outlays. Spending for military active duty and retirement, veteran's benefits, supplemental security income, and Medicare payments to Health Maintenance Organizations and prescription drug plans were accelerated into July because August 1, 2015, the normal payment date, fell on a non-business day. In August, outlays for defense were $40 billion compared to $51 billion in July while outlays for Medicare were $24 billion in August, lower than $74 billion in the previous month.

Accounting for calendar adjustments, the budget gap would have been $112 billion.

Year-to-date, the country’s fiscal deficit was recorded at $211 billion. 

US Budget Deficit Narrows 50% in August

US Treasury | Joana Taborda |
9/12/2015 2:03:47 PM