© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

FED'S DALY SAYS PATIENCE IS A PRUDENT STRATEGY RIGHT NOW

MNI BRIEF: ECB “Can’t Rule Out Cuts” On Latest Info - De Cos

MNI BRIEF: ECB Rate Cut Talk Will Depend On Data - De Cos

EZ/UK T-Bill Calendar: Germany And France To Issue On Monday

MNI: US SEP FLASH S&P MANUF PMI 48.9 (FCST 48.2); AUG 47.9

MNI: CANADIAN JUL RETAIL SALES +0.3%; SALES EX-AUTOS/PARTS +1.0%

MNI BRIEF: Canada Shows No Progress Closing Housing Shortfall

MNI BRIEF: Highlights From BOC Governor Macklem Speech

MNI BRIEF: Finance Minister Calls BOC Pause 'Welcome Relief'

MNI BRIEF: US Posts $1.524T FYTD Deficit, Surplus In August

(MNI) WASHINGTON
USPolicy NewsHomepageFiscalGovernment sectorNorth AmericaBriefStoryRegion

The Treasury Department Wednesday reported a USD1.524 trillion budget deficit in the first eleven months of the fiscal year, up 61% or USD578 billion compared with this point last year.

The fiscal year-to-date deficit eased from last month as August showed a surplus of USD89 billion. Receipts are down 10% compared to last year while outlays are up 3%. The fiscal year to date interest on public debt stood at a record USD808 billion in August, up USD130 billion or 19% from the same point last year. The interest on the public debt as a percentage of GDP, however, was higher in the 1980s and 1990s. The weighted average interest rate at the end of August was 2.92% relative to 1.97% in the same month last year.

Keep reading...Show less
165 words

To read the full story

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

The Treasury Department Wednesday reported a USD1.524 trillion budget deficit in the first eleven months of the fiscal year, up 61% or USD578 billion compared with this point last year.

The fiscal year-to-date deficit eased from last month as August showed a surplus of USD89 billion. Receipts are down 10% compared to last year while outlays are up 3%. The fiscal year to date interest on public debt stood at a record USD808 billion in August, up USD130 billion or 19% from the same point last year. The interest on the public debt as a percentage of GDP, however, was higher in the 1980s and 1990s. The weighted average interest rate at the end of August was 2.92% relative to 1.97% in the same month last year.

Keep reading...Show less