U.S. Posts Biggest Monthly Budget Deficit in May Since 2009
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The U.S. posted a $146.8 billion budget deficit in May, the largest for the month since 2009, as revenue declined.
The budget gap rose 66 percent last month from a year earlier, the Treasury Department reported on Tuesday. Spending rose by 10.7 percent to $363.9 billion, compared with a 9.7 percent fall in receipts to $217.1 billion.