Trump promised to eliminate America’s budget deficit. But government spending just pushed the 12-month total past $1 trillion for the 2nd straight month.

The US budget deficit swelled in November as Washington continued to spend more than it collected in revenue despite solid economic growth.

The gap between federal expenditures and receipts grew to $209 billion last month, the Treasury Department said in its monthly budget statement on Wednesday. In the same month last year, the government budget deficit was $205 billion.

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The 12-month deficit came in above $1 trillion for the second month in a row. Since the start of the fiscal year in October, the gap has grown by 12%.

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Receipts increased by 3% in that period, to $471 billion, partly because of calendar quirks that shifted the timing of payments. Outlays rose by 7%, to $814 billion, boosted by healthcare and retirement programs.

Article URL : https://news.yahoo.com/trump-promised-eliminate-americas-budget-194002771.html

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