WASHINGTON (UrduPoint News / Sputnik - 13th August, 2019) The US government's budget deficit soared by almost 27 percent compared to the same 10-month period of the previous fiscal year, Treasury Department data revealed on Monday.
The US deficit for the first ten months of Fiscal Year 2019, according to the data, rose to $866.8 billion, exceeding the full year figure for last year which was $779 billion.
Defense spending rose by 9.5 percent to $568.2 billion in the same ten-month period.
For the month of July alone, the deficit rose to $119.7 billion, $48 billion higher than the same month last year.
UrduPoint Network is the largest independent digital media house from Pakistan, catering the needs of its users since year 1997. We provide breaking news, Pakistani news, International news, Business news, Sports news, Urdu news and Live Urdu News