Metrics 2.0» Economic Indicators» Fed/Budget:

$2.9 trillion U.S. Budget Proposed for Next Year

President Bush sent his proposed $2.9 trillion budget, for the 2008 fiscal year that begins on Oct. 1, to Capitol Hill today. For the 2008 fiscal year, the deficit is seen at $239 billion, about $5 billion less than that projected for the current fiscal year. The total spend for the current year is seen at roughly $2.78 trillion.

Continue reading... "$2.9 trillion U.S. Budget Proposed for Next Year" »

October Budget Deficit $49B; U.S. Reported Deficit Every Oct. Since 1954

U.S. federal deficit for October totaled $49.3 billion, up 4.3% from  $47.3 billion a year ago, according to The Treasury Department. U.S.  government has run a deficit every year in October since 1954. The all-time October high of $70 billion set in 2003. 
  • Revenues for October were up 12.2% from last year to a record $167.7 billion, surpassing the old October record of $157 billion set in 2001.
  • Spending for October was up 10.3% from a year ago to a record for October of $217 billion.

Continue reading... "October Budget Deficit $49B; U.S. Reported Deficit Every Oct. Since 1954" »

U.S. Trade Deficit Hits Record in August; U.S. Budget Deficit Trimmed

The U.S. deficit in international trade of goods and services climbed 2.7% to a record $69.86 billion in August, according to the Commerce Department. In August, the goods and services deficit was up $11.1 billion from August 2005. Exports were up $14.4 billion, or 13.4%, and imports were up $25.5 billion, or 15.3% from year ago period.

U.S. exports rose 2.3% to a record $122.42 billion in August, on strong sales of American-made aircraft, foods, and consumer goods. Growth of U.S. imports outpaced exports, rising 2.4% in August to $192.28 billion

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US Federal Deficit Jumped to $64.6B in August, up from $51.3B a year ago

For August, the federal budget deficit jumped to $64.6 billion, up from $51.3 billion in August 2005, according to the Treasury Department.

Through the first 11 months of the current budget year, revenues have totaled a record $2.12 trillion, up 11.5% from the same period a year ago. Government spending is also at record levels totaling $2.43 trillion, an increase of 7.6% from the same period a year ago.

The 11-month deficit for the current fiscal year of $304.3 billion is 14.1% below the deficit of $354.1 billion during the same period a year ago.

The Congressional Budget Office is forecasting the deficit for the entire year to be $260 billion (expecting sizable surplus in September), while the administration is forecasting a deficit of $295.8 billion for the current budget year, which ends Sept. 30.

Both the CBO and the administration are expecting an improvement from last year's deficit of $319 billion, the third highest amount of deficit in history. The highest deficit was $413 billion set in 2004.

U.S. federal government ran a $20.5 billion surplus in June

The U.S. federal government ran a $20.5 billion surplus in June on a surge of corporate and individual tax receipts, according to the Treasury Department. The surplus was down from $22.9 billion in June 2005.

For the fiscal year so far, the deficit is down 17% to $206.5 billion from $249.5 billion this time last year. Receipts are up about 13% year-to-date to 1.81 trillion. Outlays are up about 9% to 2.02 trillion. 

For the year, the government estimates the deficit will shrink to $295.8 billion from $318.5 billion. 

In June, receipts increased 13% to $264.4 billion and outlays rose 15% to $243.9 billion, both are record for June. 

In June, individual tax receipts totaled $106.5 billion. Corporate taxes totaled $67.3 billion. Payroll taxes totaled $59.0 billion. 

For the year-to-date, individual taxes are up about 14%, corporate tax receipts are up about 27% and payroll taxes are up about 6%. Nonwithheld individual income tax receipts are up 22% year-to-date to $322.5 billion, while withheld taxes are up about 8% to $649.5 billion. 

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

 $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.

March US Government Deficit is Pegged at $85.4 Billions

Select Budget Outlays for Mar-06 Include… $ Millions
Department of Health and Human Services    64,063
Social Security Administration    52,262
Department of Defense 48,472
Interest on Treasury debt securities (gross)    19,694
Department of Agriculture    6,914
Department of Homeland Security    5,868
Department of Education    5,591
Total outlays    250,034
Select Budget Outlays for Mar-06 Include… $ Millions
Department of Health and Human Services    64,063
Social Security Administration    52,262
Department of Defense-Military    48,472
Interest on Treasury debt securities (gross)    19,694
Department of Agriculture    6,914
Department of Homeland Security    5,868
Department of Education    5,591
Others…

 47,170

Total outlays    250,034

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