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Will the US federal budget deficit for August 2024 exceed $250 billion?
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No • 50%
U.S. Treasury Department's monthly budget statement
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US Federal Budget Deficit Rises 10% to $244 Billion in July, Exceeding Expectations
Aug 12, 2024, 06:03 PM
The United States has recorded a significant increase in its federal budget deficit for July 2024, reaching $244 billion, which is a 10% rise compared to the same month last year. This figure slightly exceeded economists' expectations of a $242 billion deficit. The Treasury Department noted that the increase in the deficit is partly due to higher spending, with budget outlays at $574 billion, up from $497 billion in July 2023. The federal budget balance for July was recorded at -$244 billion, compared to -$66 billion in the previous period. The July 2023 deficit was $221 billion, and the fiscal 2024 year-to-date deficit is $1.517 trillion.
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