Washington posted a $208 billion budget deficit in May as a modest increase in r...
FILE PHOTO: Sun shines on the U.S. Capitol Dome as budget legislation deadlines loom for a potential federal government shutdown in Washington, U.S., December 21, 2018. REUTERS/Joshua Roberts/File Photo
The deficit was the highest ever for the month of May and wider than the average forecast of $185.5 billion in a Reuters poll of analysts. Tariffs provided a modest boost to government coffers, with customs duties taking in $5 billion during the month, up from $3 billion in May 2018. The Trump administration has raised tariffs on several major trading partners - notably China.
Treasury officials who asked not to be identified said May’s deficit would have been about $159 billion - smaller than the unadjusted results - when taking into account calendar differences including the timing of payments to Medicare.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Race to succeed UK PM May begins with ten candidates nominatedTen candidates were nominated in the contest to succeed Theresa May as Conservat...
Read more »
Detroit police say they have a suspect who may be linked to serial killingsA man charged with stabbing and raping a woman may be the same man responsible for three killings in Detroit, police say
Read more »
BoE's Saunders says UK rates may need to rise before markets expectThe Bank of England will probably need to raise interest rates sooner than finan...
Read more »
Cramer: Beware of froth — 'it may be too late to put new money to work''When you see people crowding into stocks just because they're going up, it's what I call a bad sign,' Jim Cramer says.
Read more »
What Your Face May Tell Lenders About Whether You’re CreditworthyWhat does your face reveal about how big of a financial risk you are? One of the world’s largest insurers thinks the answer is quite a bit.
Read more »