U.S. May Budget Deficit Soars to $347 Billion The U.S. government reported a $347 billion budget deficit for May, significantly higher than the $240 billion deficit a year earlier. This increase is attributed to pre-payment of some June benefits and higher expenses for interest, Social Security, and defense. May’s outlays rose 22% from last year to $671 billion, partially due to early benefit payments. Receipts for the month were $324 billion, up 5% from May 2023. The fiscal year deficit now stands at $1.202 trillion, a 3% increase from the previous year. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Defying Milei: Argentine Province Prints Its Own Money to Survive READ MORE Gold's Long-Term Strength Predicted to Persist READ MORE Yellen says U.S. Economic Performance 'Vindicates' Heavy COVID-Era Spending READ MORE Gold and Bitcoin: Vital Challengers to Fiat Currencies READ MORE Geopolitical Risks Cap Oil's Decline READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment