This afternoon, the Treasury Department released the Monthly Treasury Statement for July. The report showed the U.S. ran a $129 billion deficit last month. July’s deficit officially pushed the year-to-date budget gap past $1 trillion to nearly $1.1 trillion.
MarketWatch reports:
The latest monthly deficit was $36 billion less than the $165 billion figure reported in July of last year — though it is just $8 billion less when factoring in certain one-time transactions, Treasury said.
In July, the government spent about $288 billion and took in $159 billion.
Federal spending in July fell in most categories but increased in education, agriculture and in payments to bondholders. In July the government paid $26.6 billion in interest on Treasury debt securities, 9% of the total spending for the month.
Wednesday’s report comes in the midst of another rough week for financial markets with the Dow dropping over 600 points on Monday and experiencing significant losses today.
