U.S. Budget Deficit Rises by 10% in July
Economy
The U.S. federal budget deficit reached $243.74 billion in July, marking a 10.4% increase compared to the same month last year, according to the Treasury Department.
Federal revenue in July grew by 19.6% to $330.377 billion, while spending rose by 15.5% to $574.119 billion.
Over the first ten months of the 2024 fiscal year, which began on October 1, the U.S. budget deficit decreased by 6% to $1.517 trillion.
Since the start of the fiscal year, federal revenue has increased by 10.7%, while spending has risen by 5.6%, including a 32% surge in interest payments on the national debt, reaching $956 billion.
Over the first ten months of the 2024 fiscal year, which began on October 1, the U.S. budget deficit decreased by 6% to $1.517 trillion.
Since the start of the fiscal year, federal revenue has increased by 10.7%, while spending has risen by 5.6%, including a 32% surge in interest payments on the national debt, reaching $956 billion.
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