Prior year deficit for October was -45.8B

  • Revenue came in at US$235.3 billion in October versus US$221.7 billion a year earlier. That was a 6.2 year and year increase
  • Spending was US$298.6 billion in October versus US$267.5 billion a year earlier. Total outlays rose by 11.6% year on year.
  • Total deficits totaled US$63.2 billion versus US$45.8 billion a year ago.
  • The US treasury received US$5.3 billion last month in deposits of earnings by Federal Reserve banks. This is largely the carry interest from the QE portfolio. Last year the total was US$6.278 billion

Of course it will be interesting how the proposed new tax reforms (if passed) will impact the deficit. The expectations are the deficit - ex growth pick up - willl add 1.5T over 10 years to the deficit. The administration is saying the pickup from growth will offset those declines.