October budget deficit lower than expections
- Receipts rose 5% year on year to 221.7b
- Outlays fell 23.5% to 265.9B
- year-to-date deficit at 44.2 billion versus 136.6 billion last year
- As of October year-to-date receipts were up 5%, while outlays fell 23.5%
- Treasury received 6.3 billion last month and 6.3 billion year to date in deposits of earnings by Federal Reserve banks
October is the start of the US governments fiscal year.