US budget deficit up slightly to $107.7 billion in August

September 13, 2017 - 2:00 pm

WASHINGTON (AP) — The federal government recorded a slightly larger deficit in August than a year ago, while the deficit through the first 11 months of this budget year is well above the same period last year.

The Treasury Department says the August deficit totaled $107.7 billion, up 0.5 percent from a deficit of $107.1 billion in August 2016. With one month to go in the 2017 budget year, the deficit totals $673.7 billion, 8.8 percent above the deficit for the same period a year ago.

The Congressional Budget Office in July boosted its estimate for this year's deficit to $693 billion, which would be 18.3 percent higher than the 2016 deficit of $585.6 billion, a deterioration that reflects in part smaller than expected revenue gains this year.

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