US Government Spending Soars To All Time High As Deficit Hits Record For Month Of May

Another month, another frightening jump in the US budget deficit. And this time with a record surge in government spending to boot.

According to the latest Treasury data, the US budget deficit in May - not a traditionally high-spending month for the US government - was a whopping $208 billion, missing the $200 billion deficit expected, and well worse than the $147 billion deficit recorded last May.

And even though there may have been one-time calendar effects and time-shifts at play, the deficit was also the biggest budget deficit for the month of May on record.

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