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US budget deficit widened in November

Budget
Posted at 2:20 PM, Dec 10, 2015
and last updated 2015-12-10 14:20:00-05

WASHINGTON (AP) - The federal budget deficit widened in November, driven by higher spending in such areas as Social Security, Medicare and defense.

The Treasury Department says the November deficit climbed to $64.6 billion, up 13.6 percent from a year ago. For the first two months of the budget year that began on Oct. 1, the deficit totals $201.1 billion, a 12.6 percent jump from a year ago.

Total receipts are up 2.9 percent to $416 billion over the past two months compared to a year ago. But spending is up an even larger 5.9 percent to $617.1 billion. The rise in receipts reflects in part more tax revenue as unemployment declines.