The Treasury May Monthly Treasury Statement released Wednesday reported a US$130 billion deficit in May 2014, down from US$138 billion in May 2013. For fiscal year 2014 through May, the deficit was US$436 billion, compared to US$626 billion for the same period in fiscal 2013.
The Congressional Budget Office released their Updated Budget Projections: 2014 to 2024, released in April, reduced the projected budget deficitsย for each of the next ten years, and the projected deficit for 2014 was revised down from 3 per cent to 2.8 per cent.
