US OCTOBER BUDGET DEFICIT HITS RECORD $404 BILLIONThe US federal budget deficit surged to $404 billion in October, up 42 | HanamiUS OCTOBER BUDGET DEFICIT HITS RECORD $404 BILLION
The US federal budget deficit surged to $404 billion in October, up 42% from $284 billion a year earlier, according to the Treasury.
Government spending jumped to a record $773 billion, versus $689 billion last year, while receipts fell to $369 billion from $404 billion.
Meanwhile, customs revenue plunged 39% to $19.22 billion, down from $31.35 billion.
October's deficit and spending both set records for the month, highlighting mounting pressure on US government finances.
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