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US budget deficit grows 27% through July

US budget deficit grows 27% through July Photo: MGN

Updated: August 12, 2019 01:06 PM

The U.S. government's budget deficit rose by $183 billion to $867 billion during the first 10 months of this budget year as spending grew more than twice as fast as tax collections.

The Treasury Department say the deficit for the current fiscal year through July is up 27% from the same period a year earlier. Spending rose 8% to $3.73 trillion, and tax revenue rose 3% to $2.86 trillion.

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Credits

Associated Press

(Copyright 2019 by The Associated Press. All Rights Reserved.)

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