World Economy

US Budget Deficit

US Budget DeficitUS Budget Deficit

The US Treasury Department releases federal budget data for June at 2 p.m. eastern time  on Monday, AP reported. The Congressional Budget Office is predicting the government ran a surplus of $51 billion in June, which would be $20 billion lower than the surplus recorded in June 2014. Through the first nine months of this budget year, the CBO is forecasting a deficit of $314 billion, $52 billion lower than the actual deficit of $366 billion recorded in the first nine months of the 2014 budget year. That would be 14.2% narrower than the same period a year ago. The federal government’s budget year begins on Oct. 1 and ends on Sept. 31. For all of the 2015 budget year, the CBO is projecting a deficit of $486 billion, little changed from last year’s deficit of $483.4 billion. The 2014 deficit was down from $680.2 billion in 2013, far removed from the four consecutive years in the wake of the recession, when the US ran annual deficits topping $1 trillion.