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Economy

Budget office: Deficit up $81 billion in nine months

By Joseph Lawler
Published
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Budget office: Deficit up $81 billion in nine months

The federal budget deficit climbed by $81 billion through the first three-quarters of fiscal 2016, the Congressional Budget Office estimated Friday.

Through June, federal spending eclipsed revenue by $397 billion, according to the office, which is the nonpartisan, in-house budget agency for Congress. While receipts were up 1 percent, spending was up 4 percent from a year earlier.

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Budgets and Deficits Congressional Budget Office Deficit Fiscal Policy Joseph Lawler Minusextra Spending Taxes