US runs wider fis­cal deficit in Oc­to­ber

China Daily (USA) - - BUSINESS -

The US fed­eral gov­ern­ment ran a fis­cal deficit of $63 bil­lion in Oc­to­ber, the first month of the fis­cal year 2018, the lat­est data from the Trea­sury De­part­ment showed on Mon­day. The deficit was larger than the $45.8 bil­lion in Oc­to­ber 2016. The Trea­sury De­part­ment said that the wider deficit was due to in­creases in spend­ing for vet­er­ans’ ben­e­fits, Medi­care pay­ments and mil­i­tary ac­tive duty and re­tire­ment. The gov­ern­ment out­lays in Oc­to­ber rose to $298.6 bil­lion from $267.5 bil­lion in the same month of last year. Rev­enues grew to $235.3 bil­lion from $221.7 bil­lion a year ear­lier.

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