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Background Information for the September 2020 Monthly Treasury Statement September 2020 had a monthly budget deficit of $125 billion compared to a surplus of $83 billion in September 2019. Overall Budget Results Sep Sep Difference FY FY 2019 2020 $ Receipts $374 $373 Outlays $291 (Deficit)/Surplus $83 Difference % 2019 2020 $ % ($1) 0% $3,462 $3,420 ($43) -1% $498 $206 71% $4,447 $6,552 $2,105 47% ($125) ($207) NM ($984) ($3,132) ($2,148) 218% Calendar Adjustments: Receipts ($3) $0 $0 $0 Outlays $50 $0 $0 $0 Adjusted MTS Results: Receipts $371 $373 $2 0% $3,462 $3,420 ($43) -1% Outlays $341 $498 $156 46% $4,447 $6,552 $2,105 47% (Deficit)/Surplus $30 ($125) ($155) NM ($984) ($3,132) ($2,148) 218% Note: Totals and differences may not sum due to rounding. NM - Not Meaningful. Calendar adjustments: September and FY comparisons include certain timing-related adjustments identified in the chart and detailed below: September 2019 Receipts • A -$3 billion calendar adjustment was made to Receipts due to a different number and composition of business days. There was one more Monday, but one less Tuesday and Wednesday in September 2019 compared with September 2020. September 2019 Outlays • A $50 billion calendar adjustment was made to Outlays because benefit payments shifted into August because September 1st was on a weekend. September 2020 Receipts • No adjustments. September 2020 Outlays • No adjustments. As a result, the adjusted year-over-year difference in monthly net budget results between September 2019 (surplus of $30 billion) and September 2020 (deficit of $125 billion) was $155 billion compared with an unadjusted difference of $207 billion. FY 2019 Receipts • No adjustments. FY 2019 Outlays • No adjustments. FY 2020 Receipts • No adjustments. FY 2020 Outlays • No adjustments. As a result, the adjusted year-over-year difference between FY 2019 and FY 2020 was $2,148 billion, the same as the unadjusted difference.