Tuesday, July 11, 2023

Deficit of $225 Billion in June 2023

 The deficit in June 2023 was $225 billion, CBO estimates—$136 billion greater than the amount recorded in June 2022. Revenues were $40 billion lower this June than they were in 2022; outlays increased by $97 billion.  The federal budget deficit was $1.4 trillion [actually $1.390 trillion] in the first nine months of fiscal year 2023, the Congressional Budget Office estimates.

Net Interest FYTD is $505 billion, thus June 2023 interest was $68 billion ($505 billion - $437 billion).  Defense Spending FYTD is $576 billion, thus June 2023 defense spending was $72 billion ($576 - $504).  Defense is still in the lead.

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