US Budget Deficit Widens in October

The United States recorded a budget gap of $136 Billion in October of 2015, higher than a $122 billion deficit a year earlier as outlays rose 4.2 percent to USD 348 billion while receipts fell 0.9 percent to USD 211 billion.

Outlays 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 October because November 1, the normal pay date, fell on a non-business day. In October, outlays for defense were USD 60 billion compared to USD 55 billion in September and outlays for Medicare were USD 74 billion in October, higher than USD 45 billion in the previous month. The interest rate on debt was USD 20 billion (USD -11 billion in September). 

Accounting for calendar adjustments, the budget gap would have been $80 billion.

October 2015 is the first month of the new 2015/2016 current fiscal year so the year-to-date deficit stood at USD 136 billion.

US Budget Deficit Widens in October

US Treasury | Joana Taborda |
11/12/2015 7:24:58 PM