WASHINGTON: The US government had an $88 billion deficit in May as spending outpaced revenues, according to Treasury Department data released on Monday.
The budget deficit was $53 billion the same month one year earlier, according to Treasury's monthly budget statement.
Economists polled by Reuters had forecast the Treasury reporting an $86.5 billion deficit last month.
When accounting for calendar adjustments, the deficit last month was $98 billion compared with an adjusted deficit of $92 billion the prior year.
The fiscal 2017 year-to-date deficit was $433 billion, or $473 billion on an adjusted basis, compared with $405 billion in the same period of fiscal 2016.
Receipts last month totaled $240 billion, up 7 percent from one year ago, while outlays were $329 billion, a jump of 19 percent from the same month a year earlier.
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