US $66 Billion Budget Deficit

According to last May data, the budget deficit of the US federal government was recorded as 66 billion dollars. The total US budget deficit rose to $426 billion.

According to the US Treasury Department's budget report covering May, the US federal government's budget deficit was expressed as $66 billion. The figure announced in May last year was 132 billion dollars. Estimates were that the budget deficit was at the level of 120 billion dollars. While the government's revenues decreased by 16 percent compared to the same month of the previous year and regressed to 389 billion dollars, its expenditures decreased by 24 percent to 455 billion dollars. As of May, the 8th month of the 2022 fiscal year, the country's total budget deficit was recorded as 426 billion dollars. In 2020, when the pandemic started, the budget deficit was expressed as 3.1 trillion dollars. While spending in the first eight months of the fiscal year decreased by approximately 19 percent compared to the same period last year, to $3.8 trillion, revenues increased by approximately 31 percent to $3.4 trillion. The U.S. budget deficit was calculated to total $2.8 trillion in fiscal 2021, and the federal government stated that they had the second-largest budget deficit after the $3.1 trillion deficit in 2020 due to the impact of the COVID-19 pandemic.