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Resource Center » U.S. & International Recaps | Release Dates | Why Investors Care | Today's Calendar
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Treasury Budget
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Definition
The U.S. Treasury releases a monthly account of the surplus or deficit of the federal government. Changes in the budget balance of the annual fiscal year (which begins in October) are followed as an indicator of budgetary trends and the thrust of fiscal policy. Why Investors Care
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| Released on
4/10/08
For
Mar 2008 |
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Treasury Budget - Level
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| Actual |
$-48.1B
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| Previous |
$
-175.6
B
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Highlights
The Treasury's budget shortfall came in well below expectations, at $48.1 billion vs. $96.3 billion in March last year. There were no details initially available but calendar quirks often push and pull receipts and outlays between months.
Individual tax receipts are at a fiscal year-to-date pace of +5.1 percent, a moderate rate and helping to offset a 16 percent decline in the much smaller category of corporate receipts. Yet the deepening decline in corporate receipts is a reminder of the economic slowdown.
Total receipts are up 2.2 percent year-to-date, well below the 5.7 percent pace for outlays. But the rate of shortfall improved in March, at -21 percent year-to-date vs. a more than -100 percent rate in February. But the outlook for future months definitely remains a concern given slowing growth and the federal stimulus bill. The government's fiscal year begins in October.
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Trends
![[Chart]](chart.gif)
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The federal budget balance is not seasonally adjusted. Consequently, it is useful to compare the current month's budget deficit or surplus to the same month for a couple of years. Some months are known to have large surpluses because quarterly estimated tax payments are received by the government. |
Data Source: Haver Analytics | Consensus Data Source: Market News International and Thomson Financial
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