US Government Budget Gap Widens Modestly
The US budget deficit increased to USD 138.5 billion in November 2017 from USD 136.7 billion in the same month of the previous year, above market expectations of USD 134 billion. Both outlays and receipts were the highest on record for a November month.
In November, outlays climbed 3.1 percent year-on-year to USD 346.9 billion as other expenses accounted for USD 133 billion; social security for USD 79 billion; Medicare for USD 55 billion; defense for USD 47 billion and interest on debt for USD 32 billion.
12/13/2017 10:37:12 AM
Meanwhile, receipts increased 4.3 percent year-on-year to USD 208.4 billion as individual income taxes accounted for USD 99 billion; social security for USD 90 billion; other taxes and duties for USD 22 billion and corporate income taxes for USD -2 billion.
When accounting for calendar adjustments, the deficit was also USD 139 billion compared with a gap of USD 137 billion in November of 2016.
Considering the first two months of the current fiscal year, the deficit went up to USD 202 billion from USD 183 billion a year earlier.