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According to the U.S. Treasury Department’s monthly budget publication, the U.S. federal government ran a budget deficit of $14 billion in December compared to analysts’ estimate of $11 billion as Trump administration’s tax cuts weighed on the revenue.

Key highlights (via Reuters)

  • U.S. fiscal 2019 year-to-date deficit $319 bln vs comparable fiscal 2018 $225 bln deficit.
  • U.S. December budget outlays $326 bln vs $349 bln in December 2017; receipts $313 bln vs $326 bln in December 2017.