Federal government ran $11 billion budget deficit in December: CBO
The federal government ran a budget deficit of $11 billion in December, the Congressional Budget Office estimated Tuesday, which was $12 billion less than the same month a year ago. Accounting for shifts in the timing of payments, the deficit would have been $36 billion. CBO said receipts in December totaled $312 billion, which is 4% less than those in the same month last year. Total spending was $324 billion, or 7% less than December 2017. For the first quarter of the fiscal year, the deficit of $317 billion is $92 billion more than the same period a year ago. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.