U.S. Budget Deficit Widens to $319 Billion Amid Flat Revenue

The U.S. budget deficit widened to $319 billion in the first three months of the government’s fiscal year as spending increased and revenue was little changed, according to the Treasury Department.

The shortfall grew by 42 percent between the October to December period, compared with the same three months the previous year, according to the latest Treasury monthly budget report released on Wednesday. Receipts climbed by 0.2 percent to $771.2 billion, while spending was up 9.6 percent to $1.1 trillion.