US budget deficit up sharply to $63.2 billion in October

WASHINGTON — The federal government began its new budget year with an October deficit of $63.2 billion, up sharply from a year ago.

The Treasury Department reported Monday that the October deficit was 37.9 percent higher than the $45.8 billion deficit recorded in October 2016.

Both government receipts and spending were up for the month, with receipts climbing 14.3 percent to $235.3 billion, a record for the month of October. The larger spending figure was up a sizable 11.6 percent to...

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