The U.S. government's deficit widened to $120 billion in July, fueled by in...
WASHINGTON - The U.S. government’s deficit widened to $120 billion in July, fueled by increases in spending on health care and the military, according to data released on Monday by the Treasury Department.
The fiscal-year-to-date deficit was $867 billion, compared with $684 billion in the comparable year-earlier period. Increased spending on the military has also fueled the deficit under President Donald Trump, who took office in January 2017 promising to strengthen the military. In July, Washington spent $53 billion on defense programs, up from $43 billion in the same month of 2018. Spending on Medicare rose to $66 billion from $34 billion, though some of that increase was because of calendar adjustments, a Treasury official said.
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