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CBO Monthly Budget Review, August 2008

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Monthly Budget Review, August 2008. Based on the Monthly Treasury Statement for June and the Daily Treasury Statements for July.

  • “The federal budget deficit was about $371 billion for the first 10 months of fiscal year 2008, CBO estimates, $213 billion more than the shortfall recorded over the same period in 2007. Revenues were about 1 percent lower than in the same period last year, whereas outlays have grown by almost 9 percent. CBO estimates that the federal government will end fiscal year 2008 with a deficit in the vicinity of $400 billion, close to the amount the agency projected last March after accounting for proposed supplemental appropriations.”
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