Jacquelyn Martin, Associated Press
WASHINGTON — The U.S. government's monthly budget returned to deficit in May after a big April surplus. But the overall imbalance so far is far smaller than it was the same period last year, putting the country on track for the lowest annual deficit in six years.
The Treasury Department says the May deficit totaled $130 billion after a surplus of $106.9 billion in April, a month when the government usually runs surpluses because of a flood of tax revenues.
For the first eight months of this budget year, the deficit totals $436.4 billion, down from $626.3 billion for the same period in 2013. It was the smallest imbalance since 2008. The Congressional Budget Office is forecasting a deficit of $492 billion for the full budget year ending Sept. 30.
- California bars judges from Boy Scouts...
- Want to help a sex trafficking victim get on...
- Chess in schools: bringing the classic mind...
- Japan's prime minister 'speechless' after...
- Deseret News National Edition explores...
- Vaccinate the economy against disease
- Possible 2016 GOP candidates pitch ideas at...
- Mitt sounds like a candidate at Salt Lake speech
- Mitt sounds like a candidate at Salt... 87
- California bars judges from Boy Scouts... 77
- Kerry: Violent extremism is not Islamic 27
- House Republicans run into divisions... 21
- Measles outbreak casts spotlight on... 20
- Analysis: Obama seizes on recovery,... 17
- Idaho has 22 breeding wolf pairs, an... 12
- Religious response to postponed... 11