As the most reliable and balanced news aggregation service on the internet, DML News offers the following information published by MARKETWATCH.COM:
The numbers: The U.S. ran a $205 billion deficit in November, a jump of $66 billion, or 48%, from the same month a year ago, the Treasury Department announced Thursday.
November’s worse budget picture is mostly due to a $44 billion calendar-related shift in when payments got sent out.
The article goes on to state the following:
What happened: The U.S. took in 1% less in revenue, mostly as individual withheld and FICA taxes fell by 2%, while corporate taxes fell by 23%. Customs duties doubled to $6 billion, on the impact of rising tariffs.
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