The budget deficit in the U.S. widened over the first six months of fiscal 2015 as spending on Social Security and health services increased, a government report showed.
Spending exceeded revenue by $439.5 billion from October through March, compared with a $413.3 billion deficit in the same period the prior year, Treasury Department figures released Monday showed. The shortfall in March was bigger than economists projected.
A stronger economy may help narrow the deficit after a weak first quarter. The U.S. is on pace to post a $486 billion shortfall in the full fiscal year, or 2.7 percent of the economy, compared with 2.8 percent last year, the Congressional Budget Office predicted last month.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.