US federal budget deficit widens in October
US federal budget deficit widens in October
Washington - XINHUA
The U.S. federal government's budget deficit grew in October due to calendar adjustment, the Treasury Department said Thursday.
The deficit hit 122 billion U.S. dollars, up 34 percent from October last year. The month of October this year is the start of the 2015 fiscal year.
Total spending increased 16 percent year on year to 334 billion U.S. dollars in October while revenues grew 7 percent year on year to 213 billion U.S. dollars last month.
The total budget deficit of 2014 fiscal year was 483 billion U. S. dollars, 29 percent lower than that in the fiscal year of 2013. It was also the lowest reading since the financial crisis.
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