Deficit Hits Record $404B

The U.S. budget deficit hit a record $404 billion last October, up $120 billion, or 42%, from the same month a year earlier, as revenues fell and spending rose. Revenues declined 9% to $369 billion, while agricultural spending increased by $14 billion and military spending by $28 billion. Interest on the federal debt rose 11% to $115 billion.

Size: 120%Text Size

Notice: This Is an AI-Generated Summary

Display The Full Article