US budget deficit stands at $211B in July

By Ovunc Kutlu

ANKARA (AA) - The US federal budget deficit stood at $211 billion in July, according to figures released Wednesday by the Treasury Department.

Total receipts were $269 billion against outlays of $480 billion, the figures showed.

As for receipts, individual income taxes were $128 billion, while social insurance and retirement came in at $108 billion.

For outlays, social security was $103 billion, while health and medicare were $72 billion and $67 billion, respectively.

The total deficit reached almost $726 billion since the beginning of the 2022 fiscal year that started Oct. 1.

For fiscal year 2022, total receipts were $4.1 trillion against outlays of approximately $4.8 trillion, according to the figures.