U.S. Budget Deficit Widened in October, Treasury Says
Budget gap grew to $100 billion last month compared with $63 billion in October 2017
WASHINGTON—The U.S. government ran a $100 billion deficit last month, compared with a $63 billion budget gap in October 2017, as spending growth outpaced revenue growth, the U.S. Treasury said Tuesday.
The Treasury Department said federal outlays rose 18% in the first month of the 2019 fiscal year compared with the same period a year earlier, in large part because of higher spending on Medicare, national defense and interest payments on the debt.
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