Monthly Budget Review, Based on the Monthly Treasury Statement for April and the Daily Treasury Statements for May: “The federal budget deficit was $941 billion during the first eight months of fiscal year 2010, CBO estimates, $51 billion less than the shortfall recorded over the same period last year. Both revenues and outlays were lower than the corresponding amounts during the first eight months of last year, by 2 percent and 3 percent, respectively.states’ efforts to replenish their unemployment trust funds. (Those collections are recorded as federal revenues.) Receipts to the Treasury from the Federal Reserve increased by about $4 billion, in line with increases in recent months that have resulted from changes in the size and composition of its portfolio of assets.”