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Federal deficit jumps to $747B, likely to exceed $1T by September

Niv Elis

The federal deficit rose to $747 billion over the past nine months, a 23 percent increase compared to the same period in the previous fiscal year, according to Treasury figures released Thursday.

The Treasury Department said in the same report that the deficit is expected to exceed $1 trillion by Sept. 30, the end of the fiscal year.

Revenue was up 2.5 percent, failing to keep pace with the 6.6 percent rise in outlays.

via The Hill.

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