US August Budget Deficit Smaller than Expected
The US government posted a USD 108 billion budget deficit in August 2017, compared with a USD 107 billion gap in the same month of the previous year and below market expectations of a USD 119.5 billion deficit.
9/13/2017 6:21:13 PM
In August 2017, outlays declined 1 percent year-on-year and totaled USD 334 billion, as social security accounted for USD 79 billion, defense for USD 52 billion, Medicare for USD 56 billion and interest on debt for USD 25 billion. Other outlays accounted for the remaining USD 122 billion. Meanwhile, receipts decreased 2 percent to USD 226 billion as individual income taxes accounted for USD 109 billion, social security and other payroll taxes for USD 89 billion, corporate income taxes for USD 1 billion and other taxes and duties for the remaining USD 26 billion.
When accounting for calendar adjustments, the deficit was USD 97 billion compared with an adjusted deficit of USD 107 billion the prior year.
The fiscal 2017 year-to-date deficit was USD 674 billion compared with USD 619 billion in the same period of fiscal 2016.