U.S. government posts $44 billion deficit in October
Reuters
Published Nov 10, 2016 11:42PM ET
U.S. government posts $44 billion deficit in October
WASHINGTON (Reuters) - The U.S. government posted a $44 billion budget deficit in October, the first month of the 2017 fiscal year, a 68 percent decrease from the same month last year, the Treasury Department said on Thursday.
This gap in October 2015 was $137 billion, according to Treasury's monthly budget statement.
Analysts polled by Reuters had expected an $80 billion budget deficit for last month. When accounting for calendar adjustments, October would have shown an $84 billion deficit compared to an adjusted $88 billion deficit in the same month of 2015.
Since 2009, when President Barack Obama assumed the presidency in the aftermath of the financial crisis, the deficit has fallen by two thirds.
President-elect Donald Trump has promised to cut taxes and increase spending on infrastructure and the military, which would raise the deficit, economists say.
Receipts last month totaled $222 billion, a 5 percent increase from October 2015, while outlays stood at $266 billion, down 24 percent from the same month a year ago.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.