Federal budget deficit $82 billion in April

The federal budget deficit totaled $82.6 billion for April, three times the amount recorded this time last year but slightly less than projected estimates.

For the first seven months of fiscal 2010, the deficit hit $799.6 billion, about $3 billion less than totals recorded during the same period last year, according to a Treasury Department report released Wednesday. 

The deficit was $20.9 billion in April 2009, the lowest recorded deficit last year. The next closest month was more than double that amount with a $45.2 billion deficit in September 2009. 

Last week, the nonpartisan Congressional Budget Office predicted an April deficit of $85 billion based on the shifting of certain payments from May to April because May 1 fell on a Saturday. After that adjustment, there was only a $39 billion difference between April 2009 figures and this year, according to CBO's monthly budget review. 

The decline also is attributed to low income tax payments because of a smaller workforce and tax relief from the economic stimulus package. 

CBO and the Office of Management and Budget have estimated that the budget deficit could hit a record $1.6 trillion this year after recording a $1.4 shortfall in fiscal 2009. Depending on the nation's economy during the final five months of the fiscal year, ending Sept. 30, that record figure may not be realized.