Federal Budget: May Deficit Soars To Almost 3x Above Average

seekingalpha06-14

The Federal Government publishes the spending and revenue numbers on a monthly basis.This was the second-largest May ever, only behind May 2020 during the very depths of the pandemic.On average, May ...

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The charts and tables below give an in-depth review of the Federal Budget, showing where the money is coming from, where it is going, and the surplus or deficit. This month saw a $347B deficit, the largest monthly deficit since March of 2023. Figure: 1 Monthly Federal Budget This was also the second-largest May ever, only behind May 2020 during the very depths of the pandemic. Figure: 2 Historical Deficit/Surplus for May On average, May experiences a deficit of -$127B, which makes this year almost 3x larger than typical May deficits! Figure: 3 Current vs Historical The two Sankey diagrams below show the distribution of spending and revenue for the month and the trailing twelve-month. Figure: 4 Monthly Federal Budget Sankey Figure: 5 TTM Federal Budget Sankey The next two charts show the monthly revenue and costs broken down by expense type. Figure: 6 Monthly Receipts The chart below shows how Medicare was a big driver of the larger deficit this year. Figure: 7 Monthly Outlays Interest Expense has ballooned higher to $836B. Figure: 8 TTM Interest Expense The table below goes deeper into the numbers of each category. Figure: 9 US Budget Detail Historical Perspective Zooming out and looking over the history of the budget back to 1980 shows a complete picture. The change since COVID-19 is quite dramatic. Figure: 10 Trailing 12-Month (TTM) The next two charts zoom in on the recent periods to show the change when compared to pre-Covid. These charts show spending and revenue on a trailing 12-month basis, period over period. Figure: 11 Annual Federal Receipts Figure: 12 Annual Federal Expenses Data Source: Monthly Treasury Statement Data Updated: Monthly on eighth business day Last Updated: Period ending May 2024 US Debt interactive charts and graphs can always be found on the Exploring Finance dashboard.  Original Post  Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.24.2","shortVersion":"4.24.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2443137645"}