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U.S. Budget Deficit Widened to $125 Billion in May

U.S. Budget Deficit Widened to $125 Billion in May

13 June 2012 08:00 (UTC +04:00)

Baku â€“ APA-Economics. The U.S. government budget deficit widened in May, as spending jumped 31.3 percent from the same month a year ago.

The deficit expanded to $124.6 billion from a $57.6 billion shortfall in May 2011, according to Treasury Department data released today in Washington. The shortfall matches a projected a $125 billion deficit.

Revenue rose by 3.3 percent in May from a year earlier to $180.7 billion from $174.9 billion, and spending rose to $305.3 billion from $232.6 billion.

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