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Monthly Budget Review for August 2013 1 (September 9, 2013)

handle is hein.congrec/cbo11233 and id is 1 raw text is: , .;ii~i~ili S EPT EM B ER 9,2 013 '. .. .... ....... Monthly Budget Review for August 2013 The federal government ran a budget deficit of roughly $750 billion for the first 11 months of fiscal year 2013, CBO estimates-a reduction of more than $400 billion from the shortfall recorded for the same period last year. Revenues have risen significantly, accounting for more than two-thirds of the decline in the deficit. The deficit for all of fiscal year 2013 is expected to be smaller than the 11-month figure, as revenues are likely to outpace outlays in September. Budget Totals, October-August (Billions of dollars) Actual, FY 2012 Preliminary, FY 2013 Estimated Change Receipts 2,188 2,472 284 Outlays 3,352 3,225 -127 Deficit (-) -1,164 -753 411 Sources: Congressional Budget Office; Department of the Treasury. Based on the Monthly Treasury Statement for July 2013 and the Daily Treasury Statements for August 2013. Receipts From October Through August: Up by 13 Percent Compared With Collections During the Same Period in Fiscal Year 2012 Receipts for the first 11 months of fiscal year 2013 totaled $2,472 billion, CBO estimates- more than receipts for the same period last year. -$284 billion Receipts, October-August (Billions of dollars) Sources: Congressional Budget Office; Department of the Treasury. 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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