July 11, 2024 18:00 GMT
MNI BRIEF: US Sees $1.3T Budget Deficit Through Nine Months
The U.S. government has accumulated a USD1.268 trillion budget deficit through the first nine months of fiscal year 2024, including a USD66 billion deficit in the month of June.
The year-to-date budget deficit is down 9% compared to the same point in 2023. The Treasury reported Thursday receipts increased 10% compared to last year, while outlays were up 5%.
The federal government has paid USD868 billion in interest payments on the debt through nine months, more than what was spent on national defense (USD644 billion) and up 33% compared to this point in fiscal year 2023. The U.S. paid USD140 billion on interest on the public debt in the month of June.
Source: Treasury Department
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