US Budget Deficit Widens to $1.1 Trillion in Fiscal Half Year
- Budget gap rises 63% over the first half of fiscal year
- Interest and health costs, student-loan forgiveness drove jump
Photographer: Graeme Sloan/Bloomberg
This article is for subscribers only.
The US federal government’s budget deficit hit $1.1 trillion in the first half of the fiscal year, a 63% jump over a year ago, driven by higher outlays for education, health care benefits and debt interest payments.
The deficit for March was $378 billion, according to monthly budget figures released Wednesday by the Treasury Department. Year-on-year comparisons are adjusted to account for calendar differences.