According to the Congressional Budget Office the federal budget deficit was $1.2 trillion in the first eight months of fiscal year 2024, CBO estimates—$38 billion more than the deficit recorded during the same period last fiscal year.
SUMMARY:
The federal budget deficit was $1.2 trillion in the first eight months of fiscal year 2024, the Congressional Budget Office estimates—$38 billion more than the deficit recorded during the same period last fiscal year. Revenues were $294 billion (or 10 percent) higher and outlays were $332 billion (or 8 percent) higher from October through May than during the same period in fiscal year 2023.