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 Druckenmiller Makes Bet on Gold Miners READ MORE China Commands 80% of Global Solar Silver Supply Chain READ MORE Pandora's Eco-Friendly Shift: Committing to 100% Recycled Silver and Gold READ MORE U.S. Treasuries Yield $2 Million Per Minute as Rates Soar READ MORE U.S. Recession Risk Drops to 20%, Goldman Sachs Reports READ MORE Add a Comment Cancel replyYour email address will not be published.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