WASHINGTON (Reuters)– The U.S. federal government published a $211 billion deficit spending for July, a 30% drop from the $302 billion deficit reported in the very same month in 2015, as invoices grew somewhat and COVID-19 relief costs fell greatly, the Treasury Department stated on Wednesday.
The Treasury stated that invoices in July grew 3% from a year previously to $269 billion, while investments fell 15% to $480 billion.
For the very first 10 months of financial 2022, the deficit fell 71% to $726 billion from $2.54 trillion in the prior-year duration, which consisted of the bulk of the costs from President Joe Biden’s $1.9 trillion American Rescue Plan Act.
(Reporting by David Lawder; Editing by Paul Simao)
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