US Reports $65 Billion Budget Gap in November
The United States recorded a budget deficit of USD 65 Billion in November of 2015, an increase of USD 8 billion, or 14 percent compared with the same period a year earlier as outlays surged 8.9 percent to USD 270 billion while receipts increased at a slower 7.3 percent to USD 205 billion.
The November deficit would have been USD126 billion if not for the shifts in the timing of some payments. For example, outlays for Military active duty and retirement, Veterans' benefits, Supplemental Security Income, and Medicare payments to Health Maintenance Organizations and prescription drug plans were accelerated into October, because November 1, 2015, the normal payment date, fell on a non-business day.
The current fiscal year-to-date deficit stood at USD 201 billion, up 13 percent from the same period a year ago.
12/10/2015 7:43:30 PM