Listen Live
Download Apps Download on the App Store Get it on Google Play
Follow us on Twitter Follow us on Facebook Follow us on Instagram

Chatty Belle - The World's Largest Talking Cow

News
Federal Government Began New Budget Year with a Sharp Deficit Increase
Tuesday, November 14th, 2017 -- 7:59 am
Posted by Riley Hebert-News Director


(AP) -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 says the October deficit was 37.9 percent 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 percent to $235.3 billion, a record for the month of October. The larger spending figure was up a sizable 11.6 percent to $298.6 billion.

The deficit for the 2017 budget year, which ended on Sept. 30, totaled $666 billion, up 13.7 percent from a 2016 deficit of $586 billion. Many forecasters believe the deficit will rise higher in the current budget year, reflecting the impact of proposed tax cuts Congress is considering and hurricane relief.

Copyright © 2017 CWBRadio.com | Privacy Policy | Terms of Use