MNI BRIEF: US Budget Deficit $244B In July, $1.517 FYTD

The U.S. government posted a USD244 billion budget deficit in July and has rang up a deficit of USD1.517 trillion in the first ten months of the fiscal year, the Treasury Department reported Tuesday.

July's deficit was up 10% compared to the same month last year, while the fiscal year to date balance was down 6% compared to the same point last year, the data showed.

The Treasury paid USD89 billion for interest on the public debt in July and USD956 billion in the first ten months of the year, up 32% compared to this point last year. The weighted average interest rate was 3.33% at the end of July, up from 2.84% a year ago.