MNI BRIEF: US Has USD174B June Budget Deficit, USD2.2T YTD

The Treasury Department Tuesday said the U.S. has racked up a USD2.2 trillion deficit in the first nine months of the fiscal year, with a USD174 billion deficit in the month of June alone.

The June federal budget deficit was a notch up from May's USD132 billion, but down considerably from deficits in the spring when the Biden administration's USD1.9 trillion fiscal relief package was dispersed. Receipts in June were USD449 billion, up USD208 billion, or 87%, compared with the year-ago month. Outlays in June were USD623 billion, down USD482 billion, or 44%, compared with June 2020.

The Treasury Department said the federal deficit in the first nine months of fiscal year 2021 was USD2.238 trillion, down USD506 billion, or 18%, compared with the deficit during the same period last year.