U.S. BUDGET DEFICIT JUMPS 23 PER­CENT THROUGH JUNE

The Day - - FRONT PAGE -

Wash­ing­ton — The U.S. budget deficit in­creased by $140 bil­lion dur­ing the first nine months of this budget year to $747.1 bil­lion as gov­ern­ment rev­enues and spend­ing both hit records.

The Trea­sury Depart­ment re­ported Thurs­day that the deficit for the cur­rent fis­cal year through June is up 23.1% over the same pe­riod a year ago with re­ceipts ris­ing by 2.7% while spend­ing in­creased 6.6%.

The Trump ad­min­is­tra­tion is fore­cast­ing that the deficit for the full budget year, which ends on Sept. 30, will top $1 tril­lion, up from a deficit of $779 bil­lion last year.

The Con­gres­sional Budget Of­fice is not quite so pes­simistic, fore­cast­ing a deficit of $896 bil­lion this year. But the CBO projects that deficits will top $1 tril­lion be­gin­ning in 2022.

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