The U.S. Treasury announced a record budget deficit of $145 billion in December, $58 billion more than the previous year. The spending increase is linked to calendar changes affecting benefit payments and revenue collections.
The U.S. Treasury announced on Tuesday that the government recorded a budget deficit of $145 billion in December, a 67% or $58 billion increase from the previous year due to record-high spending that inflated due to calendar changes affecting the timing of some benefit payments and revenues.
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