U.S. Budget Deficit Narrowed in May as Pandemic Spending Eased

WASHINGTON—The federal funds ran a $66 billion deficit throughout May, a 50% decline from a yr earlier as the federal government slashed spending on pandemic applications.

Federal outlays in May fell by 24% to $455 billion, not adjusting for calendar variations, the Treasury Division reported Friday. That mirrored a discount in spending on pandemic applications on the Treasury and Labor Departments and the Small Enterprise Administration.

Source link

Leave a Reply

Your email address will not be published.