WASHINGTON (Sputnik) — The US federal budget deficit rose to $568 billion for the first 10 months of fiscal year 2017, the Congressional Budget Office (CBO) said in a report.
"The federal budget deficit was $568 billion for the first 10 months of fiscal year 2017, the Congressional Budget Office estimates — $56 billion more than the shortfall recorded during the same span last year," the report said on Monday.
Both receipts and outlays rose during the first 10 months of the year, but outlays rose much more, the CBO said.
Receipts totaled $2,738 billion during the first 10 months, or $60 billion more than the amount collected during the same period last year, according to the report.
Outlays for the first 10 months totaled $3.307 billion, or $116 billion more than the same period last year, the report added.
