The US budget deficit reached $214 billion in August, from $108 billion a year ago, as spending surged, according to the data from the US Treasury Department.
It was expected that US Treasury will announce a shortfall attaining $156.5 billion in August, with a Government Deficit standing at $152 billion, when adjustments are taken into account, compared to a deficit at $108 billion from the same period a year ago.
The country fears corporate and individual tax cuts that have been approved by the Donald Trump administration late last year, and an increase in government spending agreed upon in early February, likely to inflate the US budget deficit.
The deficit for the fiscal year 2018, which began in October, stood at $989 billion, compared to $674 billion in the same month in the 2017 fiscal year, while total unadjusted revenues stood at $219 billion a month ago, with a 3 percent down from August 2017, with unadjusted expenditures reaching $433 billion, 30 percent higher from the same month in 2017.
Source (Al-Hayat newspaper, Edited)
