WASHINGTON (AP) — The federal budget deficit rose sharply in June compared to a year ago, although much of the increase reflected calendar quirks.
The Treasury Department says the June deficit totaled $90.2 billion, up from a surplus in June 2016 of $6.3 billion. However, outlays grew by $39 billion this year because benefit payments that normally would have been distributed in July were made in June since July 1 fell on a Saturday.
Through the first nine months of this budget year, the budget deficit totals $523.1 billion, up from a deficit of $399.2 billion during the same period a year ago.
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