Close Menu
    Business

    U.S. Budget Deficit Narrowed in May as Pandemic Spending Eased

    By
    U.S. Budget Deficit Narrowed in May as Pandemic Spending Eased



    WASHINGTON—The federal budget ran a $66 billion deficit during May, a 50% decline from a year earlier as the government slashed spending on pandemic programs.

    Federal outlays in May fell by 24% to $455 billion, not adjusting for calendar differences, the Treasury Department reported Friday. That reflected a reduction in spending on pandemic programs at the Treasury and Labor Departments and the Small Business Administration.



    Original Source Link

    Share.

    RELATED POSTS