Monthly Budget Review

August 5, 2010

Based on the Monthly Treasury Statement for June and the Daily Treasury Statements for July

The federal budget deficit was about $1.2 trillion for the first 10 months of fiscal year 2010, CBO estimates--about $90 billion less than the roughly $1.3 trillion deficit incurred through July 2009. Outlays are about 2½ percent lower than they were last year at this time, and revenues are about 1 percent higher. The Treasury reported a deficit of $68 billion for June, about $1 billion less than CBO had projected on the basis of the Daily Treasury Statements. The deficit in July was $169 billion, CBO estimates, $11 billion less than the shortfall recorded a year ago.