The federal government's budget deficit in May rose to a record $207.8 billion, 41.5% higher than a year ago. The Treasury Department said Wednesday that the increase in the May deficit from an imbalance of $146.8 billion in May 2018 reflected the fact that because June 1 fell on a Saturday, benefit
WASHINGTON — The federal government's budget deficit in May rose to a record $207.8 billion, 41.5% higher than a year ago. Most of that increase reflected the impact of calendar quirks that shifted $55 billion in June benefit payments into May.
The Congressional Budget Office is forecasting a slightly lower deficit of $896 billion for this year, but that would still be up 15% from the 2018 deficit. Spending so far this year totals $3.01 trillion, up 9.3 percent from the same period in 2018, while government receipts total $2.27 trillion, an increase of 2.3 percent.
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