US budget deficit totals $138.5 billion in November

December 12, 2017 - 2:00 pm

WASHINGTON (AP) — The federal government collected a record amount of tax income for the month of November and also had a record level of spending for the month, producing a budget deficit of $138.5 billion, up slightly from a year ago.

The Treasury Department says the November deficit was 1.4 percent higher than a year ago, reflecting in part higher spending to deal with disaster relief and also higher spending by the Treasury Department on interest payments on the national debt.

For the first two months of this budget year, the budget deficit totals $201.8 billion, up 10.6 percent from the same period a year ago.

The spending increases pushed total outlays in November to $346.9 billion, a record for the month, while receipts totaled $208.3 billion, also a record for November.

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