Monthly Budget Review: September 2022


The federal budget deficit was $1.4 trillion in fiscal year 2022, the Congressional Budget Office estimates—about half of last year’s deficit of $2.8 trillion. By CBO’s estimate, revenues were $850 billion (or 21 percent) higher and outlays were $548 billion (or 8 percent) lower than they were in fiscal year 2021.

See more editions of CBO’s Monthly Budget Review.