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WASHINGTON Brandon Shell Youth Jersey , Aug. 12 (Xinhua) -- The U.S. federal government posted a budget deficit of 94.6 billion U.S. dollars in July after reaping a surplus in the previous month, with the rising deficit for the current fiscal year, the U.S. Treasury Department said Tuesday.


The July deficit was in sharp contrast with a surplus of 70.5 billion U.S. dollars in June. In breakdown, revenue decreased to 211 billion U.S. dollars and spending increased to 305 billion U.S. dollars.


In the first ten months of the current fiscal year Wesley Johnson Youth Jersey , which ends at the end of September, the combined budget deficit stood at 460 billion U.S. dollars, down 24 percent from the same period a year ago.


In its latest estimate, the Congressional Budget Office (CBO) forecasted the deficit would total 492 billion dollars in the current fiscal year Jermaine Kearse Youth Jersey , lower than a record high of 1.4 trillion dollars in 2009.


This year's deficit would equal 2.8 percent of the gross domestic product (GDP), down from the 4.1 percent in 2013, according to the CBO projection.


As revenue increased and spending dwindled, the U.S. federal government budget deficit fell to 680 billion dollars for the 2013 fiscal year Josh Martin Youth Jersey , the smallest in five years.

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