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Monthly Budget Review for May 2013 1 (June 7, 2013)

handle is hein.congrec/cbo11083 and id is 1 raw text is: JUNE 7,2013 Monthly Budget Review for May 2013 The federal government ran a budget deficit of $627 billion from October 2012 through May 2013 (the first eight months of fiscal year 2013), according to CBO's estimates. That amount is almost $220 billion less than the shortfall recorded during the same period last year, primarily because federal revenues have risen by 15 percent, while the government's spending has risen by less than 1 percent. For fiscal year 2013 as a whole, according to CBO's updated estimates based on current law (which were released last month), the deficit will total $642 billion. Budget Totals, October-May (Billions of dollars) Actual, FY 2012 Preliminary, FY 2013 Estimated Change Receipts 1,564 1,800 236 Outlays 2,408 2,427 18 Deficit (-) -844 -627 218 Sources: Congressional Budget Office; Department of the Treasury. Based on the Monthly Treasury Statement for April 2013 and the Daily Treasury Statements for May 2013. Receipts Through May: Up by 15 Percent Compared with Collections During the Same Period in Fiscal Year 2012 Receipts for the first eight months of fiscal year 2013 totaled $1,800 billion-$236 billion more than the amount taken in over the same period last year, CBO estimates. Receipts, October-May (Billions of dollars) Sources: Congressional Budget Office; Department of the Treasury.

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