Tuesday, February 27, 2024
HomeEconomyU.S. deficit hits $39 billion in January as revenues fall, spending soars

U.S. deficit hits $39 billion in January as revenues fall, spending soars

WASHINGTON (Reuters) – The U.S. government posted a budget deficit of $100 million in January, after a rare U.S. Treasury Department said on Friday that the deficit was due to falling revenue and some one-time costs. That led to a sharp increase in spending, which was a $10 billion monthly surplus a year ago.

Receipts were $157 billion last month, down 140 USD billion, or 4%, from January

.

January spending was $933 million, an increase of $

from a year earlier billion, or 4%, due in part to the $18 multi-billion dollar central state pension fund bailout and Last year’s communications spectrum auction had the effect of reducing spending in January 2022.

For the first four months of the fiscal year beginning in October, U.S. revenues fell by 39 $39 billion, or 3 percent , to $1.473 trillion, while spending rose by $157 billion, or 9%, to 1.

trillion, a record for the period.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

LAST NEWS

Featured NEWS