Monthly Budget Deficit – 19th Straight
The Outstanding Public Debt Clock Keeps Ticking
The US government has now posted 19 consecutive monthly budget deficits, the longest string on record.
The deficit posted for April was 82.69 billion dollars. That is nearly four times the 20.91 billion shortfall registered in April of last year. It is also the largest deficit on record for the month.
For the first seven months of fiscal 2010 the total budget deficit was $799 billion. That amount was down slightly from the $802 billion in fiscal 2009 for the same period.
Officials said that there were five Fridays in April this year, and that helped account for the higher outlay since most tax refunds are issued that month.
Department officials said that in prior years, there was a surplus during April in 43 out of the past 56 years.
Taxes paid during April were $245 billion, up from $153 billion in March but lower than the $266 billion last April.
This years projected deficit is $1.5 trillion on top of a $1.4 trillion shortfall from last year.