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Economy

Deficit up $72 billion so far in 2016

By Joseph Lawler
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Deficit up $72 billion so far in 2016

The federal government ran a $355 billion deficit through the first seven months of fiscal 2016, the Treasury reported Wednesday, up $72 billion from a year earlier.

In April, the government saw a $106 billion surplus, thanks to the surge in tax collections that came with tax day. Revenues in the month were $438 billion, versus spending of $332 billion.

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Budgets and Deficits Congressional Budget Office Joseph Lawler Minusextra National Debt Treasury Department