U.S. runs November budget deficit of $139 billion, Treasury says

By Robert Schroeder

Published: Dec 12, 2017 2:02 p.m. ET



SHARE



Shortfall up just 1% from same month last year

Getty Images

The U.S. Treasury

The numbers: The U.S. government ran a budget deficit of $139 billion in November, the Treasury Department said Tuesday, up just 1% from the same month a year ago. Spending rose 3% in the month, and revenues climbed 4%.



What happened: Some of the biggest drivers of spending in November were for Homeland Security and interest on the public debt. Homeland Security spending more than doubled from last November, to $9 billion. The Congressional Budget Office says that jump was largely for disaster relief. Withholding of individual income and payroll taxes, meanwhile, climbed by 6% ? something the CBO attributes to increases in wages and salaries.



Big picture: The latest Treasury report comes just days after President Donald Trump signed a stopgap budget to keep the government running until Dec. 22, and Congress works on a major tax bill. The bill is allowed to add no more than $1.5 trillion to deficits over 10 years, and lawmakers are due to hold an open meeting on Wednesday to debate the measure.

[e-mail]

(끝)