Deficit beats estimates as unemployment benefits trimmed
- Last August deficit was $200.0B
The yearly comparison is a poor one because August 1 fell on a weekend and that changed the timing of payments. If you adjust for calendar shifts, the deficit would have been $255B vs $146B a year ago.
Still, considering there's a pandemic that's not bad.
Where the deficit ultimately comes in depends on what gets passed in terms of stimulus or forgiving payroll taxes. Both are unlikely.
