• CBO: Monthly Budget Review for July 2018

    2 monthes ago - By Calculated Risk

    As expected, the deficit is increasing significantly.
    From the CBO: Monthly Budget Review for July 2018
    The federal budget deficit was $682 billion for the first 10 months of fiscal year 2018, CBO estimates, $116 billion more than the shortfall recorded during the same period last year. Revenues and outlays were 1 percent and 4 percent higher, respectively, than in the same period in fiscal year 2017.
    As was the case last year, this year's outlays were affected by shifts in the timing of certain payments that otherwise would have been due on a weekend. If not for those shifts, outlays and...
    Read more ...