Economy

Deficit rises in first half of 2017, but there’s a catch

By Joseph Lawler
Published April 7, 2017 9:35pm ET
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Deficit rises in first half of 2017, but there’s a catch
The federal deficit rose by $63 billion to $522 billion in the first half of fiscal 2017, the Congressional Budget Office estimated Friday. (AP Photo/Jacquelyn Martin, File) | Jacquelyn Martin

The federal deficit rose by $63 billion to $522 billion in the first half of fiscal 2017, the Congressional Budget Office estimated Friday.

However, the bigger shortfall was caused entirely by a shift in the timing of federal payments that occurred because the start of the year fell on a weekend.

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Budgets and Deficits Congressional Budget Office Joseph Lawler Minusextra