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.
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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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