United States: Treasury Budget

The federal government has incurred a cumulative budget deficit of $391 billion in the first five months of fiscal 2018, compared with $350.6 billion over the same time last year. For the month of February, the federal government ran a budget deficit of $215.2 billion, more than the $192 billion deficit in February 2017. Federal revenues decreased 9.4% on a year-ago basis to $155.6 billion, as the new tax law reduced withholdings. Meanwhile, spending rose by 2% to $370.9 billion due to year-over-year increases in Social Security, Medicare, and national defense expenditures.