US posts $236 billion budget deficit in March

By Ovunc Kutlu

ISTANBUL (AA) - The US posted a federal budget deficit of approximately $236 billion in March, according to Treasury Department figures released Wednesday.

For March, total receipts, or income, were around $332 billion, against total outlays, or spending, of $569 billion.

As for receipts, social insurance and retirement were $140 billion, while individual income taxes came in at $161 billion.

For outlays, social security was $122 billion, while income security stood at $82 billion.

For the 2024 fiscal year, which runs from Oct. 1, 2023, through Sept. 30, 2024, the budget deficit stands at $1.06 trillion with almost $2.2 trillion in income against more than $3.25 trillion in spending.