Monthly Budget Review, Based on the Monthly Treasury Statement for June and the Daily Treasury Statements for July 2011: The federal budget deficit was about $1.1 trillion in the first 10 months of fiscal year 2011, CBO estimates — $66 billion less than the roughly $1.2 trillion deficit incurred through July 2010. Revenues were about 8 percent higher than they were at the same point last year, whereas outlays rose by less than 3 percent. The Treasury reported a deficit of $43 billion for June, $2 billion less than CBO had projected on the basis of the Daily Treasury Statements.”