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Barrack: We call upon Druze, Bedouins, and Sunnis to put down their weapons and together with other minorities build a new and united Syrian identity building peace and prosperity with their neighbors
US Special Envoy to Syria Tom Barrack: Israeli Prime Minister Benjamin Netanyahu and Syrian President Ahmad al-Sharaa supported by the US have agreed to a ceasefire embraced by Türkiye, Jordan, and their neighbors
YAF spokesperson Brigadier General Yahya Saree: We carried out a top-tier operation targeting Ben Gurion Airport in Lydd with a Palestine 2 hypersonic ballistic missile
Israeli media: Israelis in the Gush Dan area and al-Quds were asked to enter shelters immediately
Sirens sound in Tel Aviv and occupied al-Quds after a missile was launched from Yemen
Sheikh Qassem: We are ready to defend ourselves if 'Israel' attacks us in a way that we believe calls for us to defend ourselves
Sheikh Qassem: "Israel" will never be handed over our weapons
Sheikh Qassem: He who refuses so and accepts humiliation, that is their own business, but for us, we will not accept humiliation. We have made great sacrifices, and our strength has helped us achieve this result
Sheikh Qassem: Be patient with the issue of exclusivity of arms with the state in the face of the great danger that will not spare Lebanon; let us speak with one voice and work for the sake of priority
Sheikh Qassem: Lebanon faces three real dangers: 'Israel', ISIS tools on the eastern border, and US tyranny

US faces budgetary deficit of $211 billion

  • By Al Mayadeen English
  • Source: Agencies
  • 11 Aug 2022 12:42
2 Min Read

Following the expiration of pandemic-related aid in June, the US Treasury Department is still facing high budget deficits due to major spending.

  • x
  • US Department of Treasury (The New York Times)
    US Department of Treasury (The New York Times)

According to reports released Wednesday by the Treasury Department, the US federal budget deficit stood at $211 billion in July, with total receipts amounting to $269 billion against outlays of $480 billion. 

In numbers: Where the deficit came from 

Per the report statements, individual income taxes were $128 billion, while social insurance and retirement came in at $108 billion. As for the outlays, social security spending was $103 billion, however, while health and Medicare were at $72 billion and $67 billion, respectively. 

June reported a deficit of $426 billion, following the expiration of pandemic-related programs and aid. 

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Outlays refer to the amounts spent by the government, as opposed to the receipts that represent the income that the government is receiving. Thus when spending is greater than what the income is, a budget deficit becomes an issue of the national debt. 

No sign of US recession?

The calculated total deficit came to almost $726 billion since the beginning of the 2022 fiscal year that began October 1st.

For the fiscal year 2022, total receipts were $4.1 trillion against outlays of approximately $4.8 trillion, per the figures. 

US Treasury Secretary Janet Yellen stated in July that there is no indication of a recession in the US economy but that the country was experiencing a national "necessary and appropriate" slowdown. 

Although Secretary Yellen revokes claims of a near recession, economic indicators prove otherwise, as consequences have rolled over in the past year. The US has seen food and baby formula shortages, inflation, a gas crisis, and sanitary product deficiencies, not to mention an exponential increase in prices all over the nation. The fallouts of the US economic deficit are resembling a domino effect, despite government denial of any recession or crisis, with housing and a mortgage crash anticipated to come next. 

According to the US Department of the Treasury website, the Monthly Treasury Statement of Receipts and Outlays of the United States Government, known as MTS, is usually released on the 8th workday of the month following the reporting month. 

Read more: US trade deficit hits new high with imports climbing

  • US
  • Budget
  • Trade deficit
  • US Treasury
  • Janet Yellen
  • Recession

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