The Treasury Department has recently released its budget statement, which showed that the government’s budget deficit increased to $147 billion in May from $144 in April. According to the statement, the declining revenue and rising spending caused the budget deficit to grow.
Compared with the same month last year, the deficit is now 66% larger. Meanwhile, the deficit for the fiscal year starting in October is now $532 billion, nearly $100 billion bigger than the deficit of the same period of the fiscal year 2017.
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