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 Massive Volume in the Silver Futures Market, 2/3 of a Billion Ounces… READ MORE Bank of Japan Takes Center Stage in Crucial Week for Global Markets READ MORE Economic Data Heats Up: Fed's 'Patience' Tested by Rising Unemployment READ MORE Silver Falls 3% Amid Market Sell-Off READ MORE Inflation Erodes Trust in Major Consumer Brands READ MORE Add a Comment Cancel replyYour email address will not be published.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