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US budget deficit passes $1 trillion mark for fiscal 2019

A man walks away from the US Treasury Department in Washington, US. Photograph:( Reuters )

Reuters Washington, United States Sep 13, 2019, 05.04 PM (IST)

The US government posted a $200 billion budget deficit in August, bringing the fiscal year-to-date deficit past $1 trillion, according to data released on Thursday by the Treasury Department.

Analysts polled by Reuters had expected a $195 billion deficit for the month.

The Treasury said federal spending in August was $428 billion, down 1% from the same month in 2018, while receipts were $228 billion, an increase of 4% compared with August 2018.

The deficit for the fiscal year to date was $1.067 trillion, compared with $898 billion in the comparable period the year earlier.

When adjusted for calendar effects, the deficit for August was $141 billion compared with an adjusted deficit of $146 billion in August 2018.

The adjusted fiscal year to date deficit was $1.017 trillion versus an adjusted $878 billion the prior period.

Story highlights

The Treasury said federal spending in August was $428 billion, down 1% from the same month in 2018, while receipts were $228 billion, an increase of 4% compared with August 2018.