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The US government records $ 215 billion in budget deficits

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rocky
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The US government records $ 215 billion in budget deficits

Post by rocky on Tue 13 Mar 2018, 2:20 am

 The US government records $ 215 billion in budget deficits







The US Treasury recorded a budget deficit of $ 215 billion in February due to a drop in revenues and an increase in expenses, the Treasury Department said.
According to the monthly budget statement of the ministry, the budget deficit in the same month last year amounted to 192 billion dollars.
Economists polled by Reuters had expected the US budget deficit to reach $ 216 billion last month.
The deficit in the five months to the current fiscal year, which began in October, totaled $ 391 billion, compared to $ 351 billion in the same period last fiscal year.
Total revenue last month was $ 156 billion, down 9 percent from February 2017, while spending was $ 371 billion, up 2 percent from the same month last year.
The US budget deficit is expected to rise due to tax cuts approved by the Trump administration late last year and an increase in government spending approved in early February to $ 1 trillion a year.
Under President Barack Obama, the deficit hit $ 1 trillion for four consecutive years. But this resulted from a historical financial crisis and stagnation and stimulus spending.
The budget deficit for the last fiscal year was $ 666 billion.


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