[size=36]The widening US budget deficit[/size]
Revenues were $ 246 billion last month, down 3% from October 2018, while expenses were $ 380 billion, up 8% from the same month a year earlier.
By comparison, the budget deficit was $ 100 billion in the same month last year, according to the Treasury's monthly budget statement.
The US government's fiscal year ends in September each year. The fiscal year 2019 saw the deficit widen to $ 984 billion, the largest in seven years, as a result of the Trump administration's decision to cut taxes and increase government spending.