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$134 Billion Deficit in October for US Government

voanews | November 13, 2019

$134 Billion Deficit in October for US Government
The U.S. government recorded a $134 billion budget deficit in October, the first month of the new fiscal year, the Treasury Department said Wednesday.That compared to a budget deficit of $100 billion in the same month last year, according to the Treasury's monthly budget statement.Analysts polled by Reuters had forecast a $133 billion deficit for the month.Unadjusted receipts last month totaled $246 billion, down 3% from October 2018, while unadjusted outlays were $380 billion, a rise of 8% from the same month a year earlier. The U.S. government's fiscal year ends in September each year. Fiscal 2019 saw a widening in the deficit to $984 billion, the largest budget deficit in seven years, a result of the Trump administration's decision to cut taxes and increase government spending.

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How Treasury Issues Debt

The U.S. Department of the Treasury (Treasury), among other roles, manages the country’s debt. The primary objective of Treasury’s debt management strategy is to finance the government’s borrowing needs at the lowest cost over time. To accomplish this Treasury adheres to three principles: (1) to issue debt in a regular and predictable pattern, (2) to provide transparency in the decision-making process, and (3) to seek continuous improvements in the auction process.

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Spotlight

How Treasury Issues Debt

The U.S. Department of the Treasury (Treasury), among other roles, manages the country’s debt. The primary objective of Treasury’s debt management strategy is to finance the government’s borrowing needs at the lowest cost over time. To accomplish this Treasury adheres to three principles: (1) to issue debt in a regular and predictable pattern, (2) to provide transparency in the decision-making process, and (3) to seek continuous improvements in the auction process.

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