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WASHINGTON (Reuters) – The US budget deficit reached $ 120 billion in July, under the effect of rising health spending and military spending, the US Treasury Department said Tuesday.
The size of the deficit was in line with the expectations of analysts polled by Reuters.
Federal spending in July was $ 371 billion, up 23% from the same month last year, while revenue grew 12% to $ 251 billion, the government said in a statement. Treasury Department.
The total deficit for the first ten months of the current fiscal year was $ 867 billion, compared to $ 684 billion for the same period last year.
The US fiscal year begins on October 1 st.
The fiscal position of the US government has deteriorated since 2016 due to an aging population, which has led more Americans to benefit from a federal insurance program. health for the elderly.
An increase in military spending has also fueled the deficit since President Donald Trump took office in January, which promised to strengthen the military.
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