The US budget deficit hit $234 billion in February, a new monthly record
The budget widened to $234 billion in February, the Treasury Department announced on Friday, compared with a monthly shortfall of $215.2 billion a year earlier. Last month's budget gap helped push the US government's budget deficit up 39% to $544 billion for the first five months of the fiscal year as federal spending ballooned and revenue mostly stayed the same. Trump 2020 budget projects big deficits despite spending cutsThe widening budget gap comes as President Donald Trump's $1.
Read MoreFederal Reserve Chairman Jerome Powell warned earlier this week that"deficits matter," saying the country's fiscal stance need to be addressed. This month's budget report was delayed by a week due to the 35-day partial government shutdown, which ended in January.The federal government spending on health programs and defense rose 9% to $1.8 trillion for October to February period, while revenues from taxes and elsewhere fell less than 1% to $1.28 trillion.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US government posts $234 billion deficit in FebruaryThe U.S. federal government posted a $234 billion budget deficit in February, according to data released on Friday by the Treasury Department.
Read more »
US budget deficit sets February record of $234 billion
Read more »
The government set a record with a $234 billion deficit in FebruaryThe government ran a $544 billion deficit over the first 5 months of the fiscal year
Read more »
U.S. runs largest monthly budget deficit on record in FebruaryThe federal government ran a budget deficit of $234 billion in February, the Treasury Department reported on Friday, the biggest monthly shortfall on record.
Read more »
The US posted a $234 billion budget deficit last month, the biggest one-month deficit in historyThe budget deficit is being driven by the tax reform law supported by President Trump and the GOP as well as the bipartisan spending deal.
Read more »
Existing-home sales roar back in February, touching an 11-month highSales of previously-owned homes surged back, leaving forecasts in the dust, reaffirming strong demand for housing amid familiar headwinds.
Read more »
California accounted for nearly three-quarters of US jobs added in FebruaryCalifornia accounted for nearly three out of every four nonfarm jobs created in the nation during February, according to data released Friday.
Read more »