US Budget Deficit Hits Record $840 Billion Over Past Four Months

The US federal budget gap widened to a record $840 billion for the first third of the fiscal year, propelled by spending increases in areas including health, Social Security, transfers to veterans and debt-interest payments.

For January alone, the deficit grew by $129 billion, the Treasury Department said in a statement Wednesday. Adjusting for calendar differences, the cumulative deficit for October through January widened 25%.