Federal budget deficit rises to $63.2 billion in October
The federal government began its new budget year with an October deficit of $63.2 billion, up sharply from a year ago.
The Treasury Department reported Monday that the October deficit was 37.9% higher than the $45.8 billion deficit recorded in October 2016. Both government receipts and spending were up for the month, with receipts climbing 14.3% to $235.3 billion, a record for the month. The larger spending figure was up 11.6% to $298.6 billion.