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Tuesday, August 20, 2019 6:28:01 PM EDT

Treasury Budget Updated 12-Aug-19 02:31PM ET

The Treasury Budget for July showed a deficit of $119.70 bln ( consensus -$100.00 bln) versus a deficit of $76.87 bln for the same period one year ago. The Treasury Budget is not seasonally adjusted, so the July deficit cannot be compared to the $8.50 bln deficit in June.

Total receipts of $251.35 bln for July were $26.08 bln more than the year-ago period. Individual Income Taxes accounted for $127.43 bln of receipts. Social Insurance and Retirement provided $93.85 bln. Corporate Income Tax receipts were $6.97 bln. Excise Taxes, Miscellaneous Taxes, Custom Duties Taxes, and Estate and Gift Taxes made up the remaining $23.10 bln.

Total outlays in July were $371.04 bln, $68.91 bln more than the year-ago period. The largest outlay was $104.03 bln for the Department of Health and Human Services, followed by $92.78 bln for the Social Security Administration, $52.67 bln for the Department of Defense, and $40.34 bln for interest payments.

The fiscal year-to-date deficit is $866.81 bln versus a deficit of $683.96 bln in the same period a year ago. The budget deficit over the last 12 months is $1.019 trln, versus $919 bln for the 12 months ending in June.

Deficit (-)/Surplus-$119.7B-$8.5B-$207.8B$160.3B-$146.9B
Deficit (-)/Surplus Fiscal YTD-$866.8B-$747.1B-$738.6B-$530.9B-$691.2B
Deficit (-)/Surplus over last 12 months-$961.8B-$919.0B-$985.4B-$924.4B-$870.5B