April's Financial Snapshot: A Closer Look at the US Budget Deficit

The United States Bureau of Fiscal Service released its Monthly Treasury Statement this Monday, revealing a staggering budget deficit of $258.4 billion for the month of April.

Where Did the Money Come From?

Total receipts for the month soared to $850 billion, with individual income taxes contributing a significant $537 billion. Social insurance and retirement funds added another $184 billion to the treasury.

Where Did the Money Go?

On the expenditure side, the US government spent a total of $592 billion in April. The lion's share went to social security, accounting for $132 billion, followed by net interest payments at $89 billion.