US federal budget deficit for October $-284 billion vs. expected $-274.5 billion
US federal budget deficit for October 2020
- The US federal budget deficit for the month of October came in at a worse than expected $-284.1 billion vs. $-275 billion estimate.
- Last October the deficit came in at $-134.468 billion.
- Total receipts came in at $237.698 billion vs. $245.521 billion last year or -3.2%
- Total spending rose to $521.769 billion from $379.988 billion last year or +37.3%
- total Federal Reserve deposit of earnings came in at $7.43 billion
- The deficit is 16% of GDP, the largest since 1945.
The US fiscal year goes from October through September. This is the 1st month for the fiscal year.