During the first half of the fiscal year, the deficit came to $303 billion, approximately $8 billion more than in the first half of 2005. For the year, the White House anticipates a $423 billion deficit.

The on-budget deficit has amounted to $385.4 billion thus far in the year, up from $372.8 billion last year. The on-budget deficit excludes receipts and spending by the Social Security and Medicare trust funds.

In March, receipts advanced 10.6%, up from March 2005, to $164.6 billion, a record for any March. Outlays advanced 13.7% up from March 2005, to a record $250 billion.

On-budget receipts grew 12% thus far in the year to $747.4 billion. Individual income tax receipts grew 8.5% to $432.6 billion, while corporate tax receipts grew 30.5% to $130.3 billion.

On-budget outlays have advanced 8.9% to $1.04 trillion year-to-date. Spending for homeland security increased $25.8 billion or 136% to $44.8 billion, in the wake of Hurricane Katrina rebuilding.

Military spending grew $20.8 billion or 9% to $250.5 billion.

Interest payments grew 16% year-to-date and health-related spending increased 7.8%, while Social Security spending advanced 5.8%.




The full report is available at: http://www.fms.treas.gov/mts/mts0306.pdf