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US Budget Deficit Hits Record-Breaking $207.8 Billion

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US Budget Deficit Hits Record-Breaking $207.8 Billion

US Budget Deficit Hits Record-Breaking $207.8 Billion

The US budget deficit ballooned to a record high in the month of May, hitting $738.

6 billion.

According to Business Insider, federal spending continued to outpace income despite a solid economy.

The gap between the amount the government takes in and spends rose nearly 42% last month.

According to Business Insider, in the first eight months of the fiscal year, the deficit increased about 39%.

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