US Budget Deficit Jumps in November on Higher Spending, Interest Costs
- U.S. federal budget deficit widened to $314B in November, up from $249B last year
- Deficit $381B for first 2 months of fiscal year, up from $336B last year
- Government receipts rose $23B to $275B, but spending increased faster by $88B to $589B
- Interest costs hit $659B last fiscal year, nearly doubling in 3 years due to higher rates
- Federal debt held by public rose by $2T last fiscal year to $26.3T