Last Update: 13-Nov-18 15:09 ET
- The Treasury Budget for October showed a deficit of $100.5 billion versus a deficit of $63.2 billion for the same period a year ago. The Treasury Budget data is not seasonally adjusted, so the October deficit cannot be compared to the $119.1 billion surplus for September.
- Total receipts of $252.7 billion for October were $17.4 billion more than the year-ago period. Individual Income Taxes accounted for $129 billion of receipts while Social Security and Other Payroll Taxes provided $116.0 billion. Corporate Income Tax receipts were $9 billion while Other Taxes and Duties receipts provided $32 billion.
- Total outlays in October were $353.2 billion, $54.7 billion more than the year-ago period. The larger outlay was mostly due to higher Social Security spending and higher spending on the Department of Defense, Department of Education, Department of Health and Human Services, and Department of Veteran Affairs.
- Outlays were led by spending on the Department of Health and Human Services ($97 billion) The remainder of the outlays included $89 billion for Social Security and $63 billion for Defense. Payment for the interest on debt increased by $7 billion.
- The budget deficit over the last 12 months has totaled $817.3 billion
|Deficit (-)/Surplus Fiscal YTD
|Deficit (-)/Surplus over last 12 months