U.S. Budget Deficit Widens on Lower Revenue, Higher Spending
WASHINGTON—The U.S. government’s budget deficit widened in the first half of its fiscal year as spending rose faster than revenue compared with the first six months of fiscal 2017.
The deficit, or the difference between the amount of money the government spent and what it took in, stood at $599.71 billion in October through March, the Treasury Department said Wednesday. That was 14% higher than the deficit during the same period a year earlier. The federal fiscal year ends Sept. 30.
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