December 11, 2019 / 7:17 PM / 2 months ago

U.S. government posts $209 billion deficit in November

WASHINGTON (Reuters) - The U.S. federal government recorded a $209 billion budget deficit in November as an increase in spending on programs like public health insurance outpaced gains in revenues, the Treasury Department said on Wednesday.

Washington had run a budget deficit of $205 billion in the same month last year, according to the Treasury’s monthly budget statement.

Analysts polled by Reuters had forecast a $196.5 billion deficit for November.

Receipts last month totaled $225 billion, up $19 billion from November 2018, while outlays were $434 billion, a rise of $23 billion from the same month a year earlier.

The U.S. government’s fiscal year ends in September each year. Fiscal year 2019 saw a widening in the deficit to the largest budget deficit in seven years at nearly $1 trillion, a result of Washington’s decisions to cut taxes and increase government spending.

When adjusted for calendar effects, the deficit for November was $161 billion compared with an adjusted deficit of $164 billion in November 2018.

Reporting by Jason Lange

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