The Real Deal Miami

Treasury payments to Fannie and Freddie down $42 billion

August 09, 2010 01:30PM

The federal budget deficit was about $1.2 trillion in the first 10 months of fiscal year 2010, about $90 billion less than the roughly $1.3 trillion deficit incurred through July 2009, the Congressional Budget Office estimated in its latest review. Spending during the first 10 months of the fiscal year was about $81 billion, or 2.7 percent, less than outlays at the same point in 2009. That decline includes a net reduction of close to $370 billion in major components of spending related to the recent financial crisis. Treasury payments to government mortgage lenders Fannie Mae and Freddie Mac were down $42 billion, the Troubled Asset Relief Program was down $277 billion and federal deposit insurance was down $50 billion. TRD