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.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
What Your Face May Tell Lenders About Whether You’re CreditworthyWhat does your face reveal about how big of a financial risk you are? One of the world’s largest insurers thinks the answer is quite a bit.
Read more »
Obituary: Judith Kerr died on May 23rdHer iron rule was never to describe what children could tell from a picture, and to use as few words as possible
Read more »
U.S. warns extradition law changes may jeopardize Hong Kong's special statusThe United States said on Monday it was gravely concerned about proposed amendme...
Read more »
As US-China relations sour, Taiwan's value as a 'chess piece' may riseAs the United States and China remain deadlocked in a deepening dispute over trade and technology, some experts say Taiwan's value as a bargaining chip has increased.
Read more »
Irish central banker job glitch may be a blessingThe government was thrilled to recruit a New Zealand Treasury official as its new governor. Now he faces an investigation about how he handled early accessing of budget information. If things go wrong, Ireland has a second chance to give Deputy Governor Sharon Donnery the job.
Read more »
Sleeping with the TV on may make you gain weightDozing off to late-night TV or sleeping with other lights on may mix up your metabolism and lead to weight gain and even obesity, provocative but preliminary U.S. research suggests.
Read more »