U.S. government posts $208 billion deficit in May

Credit: Reuters- Published on June 12, 2019
Washington posted a $208 billion budget deficit in May as a modest increase in revenues failed to make up for higher spending on the military and social welfare programs like Medicare, according to data released on Wednesday by the Treasury Department.

Credit: Wochit News
Published on June 12, 2019 -  00:43
US Budget Deficit Hits Record-Breaking $207.8 Billion
The US budget deficit ballooned to a record high in the month of May, hitting $738. 6 billion. According to Business Insider, federal spending continued to outpace income despite a solid economy. The gap between the amount the government takes in and spends rose nearly 42% last month. According to Business Insider, in the first eight months of the fiscal year, the deficit increased about 39%.

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