July 18, 2018

U.S. Estimated Budget Deficit

The U.S. government recorded an estimated budget deficit of $607 billion for the first 3 quarters of fiscal year 2018, according to the Congressional Budget Office’s (CBO’s) latest review. The amount was $84 billion more than the deficit recorded in the same period for FY 2017. Total tax receipts were up by 1% in the first 9 months of FY 2018, compared with the amount received in the same period last year. However, corporate tax payments declined 28% and outlays increased by 4%. To read the full review, go to https://bit.ly/2Nc2tV1.