Author Topic: Deficit rises to nearly $2.1T  (Read 397 times)

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Deficit rises to nearly $2.1T
« on: June 10, 2021, 06:44:32 PM »
Deficit rises to nearly $2.1T
By Jordan Williams - 06/10/21 05:45 PM EDT

The federal deficit in May rose to nearly $2.1 trillion over the first eight months of fiscal year 2021, according to data from the Treasury Department released Thursday.

Spending from October through May totaled $4.67 trillion, up from the $3.89 trillion in the same period a year ago.

Meanwhile, tax revenues for the first eight months of the fiscal year totaled $2.6 trillion, comparable to the same time period last year.

In May alone, the deficit was $132 billion, down from the same time a year ago, according to the Treasury Department. Federal spending last month reached $596 billion, while revenue climbed to just $464 billion.

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