Monday, June 10, 2024

Deficit of $348 Billion in May 2024

 The deficit in May 2024 was $348 billion, CBO estimates—$108 billion more than the amount recorded in May 2023. The federal budget deficit was $1.2 trillion [actually $1.203 trillion] in the first eight months of fiscal year 2024, the Congressional Budget Office estimates—$38 billion more than the deficit recorded during the same period last fiscal year.  https://www.cbo.gov/system/files/2024-06/60280-MBR.pdf

Net Interest Expense for May 2024 was $91 billion ($622 - $531).  This is up from $63 billion in May 2023.

On 5/31/2024 the total national debt was $34.667 trillion. On 5/31/2023 it was $31.464 trillion. So that is an increase of 10.2% in one year (which is higher than what I think is the long-term trend of 8%).

============

As of 5/29/2024, the Federal Reserve now has a deficit of $171.9 billion, up from $165.39 billion (as of 4/24/2024).  This is an increase of $6.5 billion for the month.


No comments:

Post a Comment