US Budget Deficit Falls 43% To $171B In August

The US' budget deficit fell 43.4% to approximately $171 billion in August, from $302 billion in July, according to the Treasury Department on Monday.

This marked the lowest level in federal budget deficit since May when it stood at almost $132 billion.

In August, total receipts were $268 billion, against total outlays of $439 billion, the department figures showed.

As for receipts, individual income taxes were $124 billion, while social insurance and retirement came at $107 billion.

For outlays, social security was $95 billion, income security was $93 billion, while health and national defense came in at $71 billion and $52 billion, respectively. -