The U.S. Budget Gap Widens

The U.S. budget deficit widened in the first four months of the fiscal year as growth in spending exceeded revenue.

The U.S. fiscal gap increased by 11 percent to $175.7 billion between October and January from the same period a year earlier, the Treasury Department said in a report on Monday. Outlays rose by 5 percent to $1.3 trillion, while receipts increased by 4 percent to $1.1 trillion.