Monthly Budget Review

March 7, 2011

Based on the Monthly Treasury Statement for January and the Daily Treasury Statements for February

CBO estimates that the federal government incurred a budget deficit of $642 billion for the first five months of fiscal year 2011, $10 billion less than the shortfall recorded in the same period last year. Outlays were $58 billion higher than in the previous year, while revenues were $68 billion higher.