Monthly Treasury Statement in United States

Measures the monthly fiscal result (deficit or surplus) of the US federal government: the difference between receipts (tax revenue and other income) and outlays during the month. A negative value indicates a deficit (spending exceeds revenue); a positive value indicates a surplus.

The Treasury consolidates receipts and outlays reported by all federal agencies during the month. Result = total receipts minus total outlays for the month. Not seasonally adjusted.

A larger-than-expected deficit can push public debt yields higher (more issuance needed) and signals the fiscal impulse to the economy; the series is very volatile month to month due to the tax and revenue payment calendar (e.g. April, tax filing month, often shows a surplus).

Not seasonally adjusted, so month-over-month comparisons are of limited use on their own (better to compare the same month across years, or use the fiscal year-to-date total). Subject to minor revisions in later releases.