The U.S. government had a $147 billion budget deficit in May, an increase of 66 percent from the same month last year as the ledger took a hit from declining revenue and higher spending, according to Treasury Department data released on Tuesday.
When accounting for calendar adjustments, the government’s deficit was $131 billion compared to an adjusted deficit of $88 billion in the same month in the previous year.
https://www.reuters.com/article/us-usa-economy-budget/u-s-government-posts-147-billion-deficit-in-may-idUSKBN1J82FNThe deficit for the fiscal year, which began last October, was $532 billion, compared to a deficit of $433 billion in the same period of fiscal 2017. On an adjusted basis, the gap was $584 billion compared with $473 billion in the prior period.
Unadjusted receipts last month totaled $217 billion, down 10 percent from May 2017, while unadjusted outlays were $364 billion, a rise of 11 percent from the same month a year earlier.