U.S. Federal Budget Gap Widens 21% in First Ten Months of Fiscal Year

Date : 08/10/2018 @ 2:30PM
Source : Dow Jones News

U.S. Federal Budget Gap Widens 21% in First Ten Months of Fiscal Year

By Sharon Nunn 

WASHINGTON -- The U.S. government's budget deficit widened 21% in the first ten months of the fiscal year when compared with the same period a year earlier -- as spending jumped.

The deficit, or the difference between the amount of money the federal government spent and what it took in, totaled $683.97 billion in October through July, the Treasury Department said Friday. The deficit was $566.02 billion during the same period a year earlier.

Friday's release showed the federal budget deficit was $76.87 billion in July, 79% wider than July 2017's deficit. Government revenue fell 3% last month compared with a year earlier, while spending grew 10%.

(More to Come)

 

(END) Dow Jones Newswires

August 10, 2018 14:15 ET (18:15 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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