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Mix-Ansicht- US Haushaltsdefizit im Mai bei $62,47 Mrd - kingsolomon, 10.06.2004, 20:37
US Haushaltsdefizit im Mai bei $62,47 Mrd
-->By Rebecca Christie
Of DOW JONES NEWSWIRES
WASHINGTON (Dow Jones)--The U.S. federal government ran a monthly budget deficit of $62.47 billion in May, as the U.S. budget deficit climbed to nearly $350 billion for the first two-thirds of the fiscal year.
The May budget figures, released Thursday, show that this year's deficit remains on track to surpass last year's record $374 billion shortfall.
For the first eight months of fiscal-year 2004, which began in October, the budget deficit was $344.32 billion. This compares with a deficit of $290.93 billion at the same point in fiscal-year 2003.
The May deficit figures were a little lower than Congressional Budget Office forecasts. CBO had predicted a $65 billion deficit for last month and a $347 billion deficit for the first eight months of the fiscal year.
"Although revenues have risen by about 2% compared with last year's levels, outlays have grown by close to 6%," CBO said in its June budget review.
The administration's official forecast still calls for a budget deficit of about $521 billion for fiscal-year 2004, but that forecast is expected to drop sharply when the White House releases its mid-session budget review this summer. Treasury Secretary John Snow said recently that faster economic growth has generated better-than-expected revenues, improving this year's outlook.
Private-sector analysts now expect the 2004 deficit to be in the range of $400 billion to $450 billion.
The $62.47 billion May budget deficit compares to a shortfall of $88.87 billion for the same month a year earlier. The April budget surplus was unrevised at $17.62 billion, Treasury said.
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