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Monthly Budget Review for July 2013 1 (August 7, 2013)

handle is hein.congrec/cbo11216 and id is 1 raw text is: ,%i AU G UST 7, 2013 Monthly Budget Review for July 2013 The federal government's budget deficit was slightly more than $600 billion in the first 10 months of fiscal year 2013, CBO estimates, almost $370 billion less than the shortfall recorded for the same period last year. Revenues have risen by about 14 percent, accounting for much of the decline in the deficit. The results through July suggest that total outlays and revenues for the fiscal year will both be slightly less than CBO projected in May, when it estimated a deficit of $642 billion for the year. Budget Totals, October-July (Billions of dollars) Actual, FY 2012 Preliminary, FY 2013 Estimated Change Receipts 2,009 2,287 278 Outlays 2,983 2,893 -90 Deficit (-) -974 -606 368 Sources: Congressional Budget Office; Department of the Treasury. Based on the Monthly Treasury Statement for June 2013 and the Daily Treasury Statements for July 2013. Receipts From October Through July: Up by 14 Percent Compared With Collections During the Same Period in Fiscal Year 2012 Receipts for the first 10 months of fiscal year 2013 totaled $2,287 billion, CBO estimates-$278 billion more than receipts for the same period last year. Receipts, October-July (Billions of dollars) Sources: Congressional Budget Office; Department of the Treasury. a. Includes nonwithheld income and payroll taxes, net of refunds, and unemployment insurance receipts. Note: The amounts shown in this report include the surplus or deficit in the Social Security trust funds and the net cash flow of the Postal Service, which are off-budget. Numbers may not add up to totals because of rounding.

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