US Treasury Budget Deficit in May was a Larger-Than-Expected $42.8 BillionĀ 

 $183.9 billion 

Corporate income tax payments, up 30% so far for 2006 fiscal year.

$687.5 billion
Individual income tax receipts so far this fiscal year, up 14%.

The U.S. treasury posted a larger-than-expected $42.83 billion federal budget deficit in May, according to a Treasury Department report. The deficit in May 2005 was $35.42 billion. 

The cumulative deficit for the first eight months of fiscal 2006, which began Oct. 1, was $226.97 billion, down from the the $272.34 billion deficit in the first eight months of fiscal 2005.

May receipts were $192.66 up from $152.73 billion in May 2005, while outlays rose to $235.49 billion from $188.15 billion in May last year. 

Receipts for the 2006 fiscal year to date were $1.545 trillion, up from $1.369 trillion over the same period in FY 2005.

The Congressional Budget Office has said the deficit for the fiscal year, which ends in September, would likely be around $300 billion. The White House had forecast a $423 billion deficit in January.

Read the Full Treasury Report.

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