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U.S. Budget Deficit Plummets 71%: What Investors Need to Know

by Team Lumida
July 12, 2024
in Macro
Reading Time: 3 mins read
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U.S. Budget Deficit Plummets 71%: What Investors Need to Know

"Piggy bank with Euro Note" by Images_of_Money is licensed under CC BY 2.0

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Key Takeaways

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  1. June’s budget deficit shrank 71% to $66 billion.
  2. Calendar shifts inflated May’s deficit and lowered June’s.
  3. Year-to-date deficit down 9%, receipts up 10%.

What Happened?

The U.S. government reported a $66 billion budget deficit for June 2024, significantly lower than the $347 billion deficit in May. This reduction primarily stems from a calendar shift that moved benefit payments into May, inflating that month’s deficit. Comparing year-over-year, the June 2024 deficit fell 71% from the $228 billion recorded in June 2023.

However, without calendar adjustments, June’s deficit would have been $159 billion, up 3% from the previous year. June’s receipts rose 11% to $466 billion, influenced by deferred tax payments due to natural disasters in 2023. June’s outlays decreased by 18% to $532 billion, but adjusting for calendar effects, outlays would have increased by 11% to $625 billion, including a $60 billion hike for student loan subsidies.

Why It Matters?

Understanding these shifts is crucial for your investment decisions. The dramatic drop in the June deficit offers a misleadingly positive snapshot due to calendar adjustments. The underlying data, however, shows a modest increase in the deficit when normalized. This highlights ongoing fiscal challenges.

Furthermore, the rise in receipts indicates a stronger revenue stream, which could bolster government spending and economic stability. However, increased outlays, especially in education subsidies, point to continued government expenditure pressures.

What’s Next?

Looking ahead, the year-to-date deficit has decreased by 9% to $1.268 trillion, compared to $1.393 trillion in the same period last year. Receipts for the first nine months of the fiscal year rose 10% to $3.754 trillion, while outlays increased by 5% to $5.022 trillion. These trends suggest a mixed fiscal outlook.

Investors should watch for further fiscal policy adjustments and potential impacts on market stability. The upcoming fiscal year-end on September 30 will be critical for assessing the government’s financial health and its implications for economic growth and market performance.

Monitoring these fiscal trends can help you make informed investment decisions. Will the government manage to sustain revenue growth while controlling expenditures? Or will rising outlays overshadow gains in receipts? Keep an eye on these factors as they unfold.

Source: Reuters
Tags: economic stabilityfiscal policygovernment spendingU.S. budget deficit
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© 2025 Lumida Wealth Management LLC is an SEC registered investment adviser. Privacy Policy. Cookies Policy.
Disclaimer Important Information This site is for informational purposes only. Information presented on this site does not constitute as investment advice.

Lumida Wealth Management LLC (‘Lumida”) is an SEC registered investment adviser. SEC registration does not constitute an endorsement of the firm by the Commission nor does it indicate that the adviser has attained a particular level of skill or ability.

Lumida's website (referred to herein as the "Website") is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publications, and links. Accordingly, the publication of the Website on the Internet should not be construed by any client and/or prospective client Lumida’s solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet.

Any subsequent, direct communication by Lumida with a prospective client will be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides.

‍Lead Capture Forms: By submitting your contact information in the forms on this site, you are not obligated to invest in Lumida's product or services.
‍Address: Lumida Wealth Management, 25 W 39th Street Suite 700, New York, NY 10018