United States Government Budget2021 Data | 2022 Forecast | 1954-2020 Historical

The US posted a budget deficit of USD 171 billion in August of 2021, compared with a USD 200 billion gap in the same period last year and broadly in line with market expectations of USD 173 million. Receipts for the month totalled USD 268 billion while outlays were USD 439 billion. For the first eleven months of the 2021 fiscal year, the US federal deficit came in at USD 2.711 trillion, below a USD 3.007 trillion deficit the year ealier.

The US posted a budget deficit of USD 302 billion in July of 2021, a record for that month, and compared with a USD 62 billion gap in the same period last year and mostly in line with market expectations. Receipts for the month totaled USD 262 billion, down 54% from July 2020, while outlays were USD 564 billion, a 10% drop from the year-earlier period. For the first ten months of the 2021 fiscal year, the US federal deficit came to USD 2.540 trillion, down 10% from the year-earlier record of USD 2.807 trillion.

The US posted a budget deficit of USD 174 billion in June 2021, compared with a deficit of USD 864 billion in the same period last year and market expectations of a USD 194.0 billion gap. Receipts jumped 87% year-on-year to USD 449 billion due to an earlier tax deadline this year. In addition, taxes withheld from wages increased by 33% and corporate taxes rose to USD 79 billion from USD 11 billion last year, helped by the continued labor market recovery. Meanwhile, outlays dropped 44% from a year earlier to USD 623 billion, largely due to the outsized impact on the deficit a year earlier from the implementation of the Paycheck Protection Program. Fiscal year-to-date deficit narrowed to USD 2.238 trillion from USD 2.744 trillion for the first nine months of the prior fiscal year.

The US posted a budget deficit of USD 132 billion in May of 2021, about a third of the May 2020 deficit of $399 billion. May has been a deficit month 66 times out of 67 fiscal years since there are usually no major corporate or individual tax due dates in this month. While the final payment of individual taxes for calendar year 2020 were shifted into May 2021, greater outlays associated with the pandemic response still resulted in a deficit this year. Outlays increased 4% from a year earlier to $596 billion in May. Still, expenses for military active duty and retirement, veterans benefits, supplemental security income, and medicare payments to health maintenance organizations and prescription drug plans accelerated into April, because May 1, 2021, the normal payment date, fell on a non-business day. Receipts rose 167% yoy to $464 billion. The year-to-date deficit widened to a record $2.064 trillion.