Monthly Budget Review

May 6, 2011
Report
The federal government incurred a budget deficit of $871 billion in the first seven months of fiscal year 2011, CBO estimates.

Summary

Based on the Monthly Treasury Statement for March and the Daily Treasury Statements for April

The federal government incurred a budget deficit of $871 billion in the first seven months of fiscal year 2011, CBO estimates. That year-to-date total is roughly $70 billion more than the deficit incurred in the same period in 2010. Both outlays and revenues are about 9 percent higher they were last year at this time. With the completion of the spring tax-filing season, receipts of individual income taxes have been significantly greater than CBO anticipated.

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