U.S. government budget deficit totals $130B for May


The Treasury Department says the total U.S. government budget deficit for May was $130B. The announcement comes after a big $106.9B surplus in April caused by the inflow of tax revenues.

Although the budget deficit for the first eight months is still down from the same period in 2013, the current deficit still totals $436.4B.

The Congressional Budget Office forecasts a full budget year deficit of $492B ending September 30.

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