US government records $136.5 billion October budget deficit
WASHINGTON - The U.S. government started its new budget year with a deficit in October, although the imbalance was made worse by a calendar quirk.
The Treasury Department says the October deficit totaled $136.5 billion, up 12.2 percent from October 2014.
In both years, Nov. 1 fell on a weekend, which required the government to mail out November benefit checks in October. That shifted $49 billion in payments into October, up from last year's $41 billion payment shift.
The government's budget year begins on Oct. 1.
For the 2015 budget year that ended Sept. 30, the annual deficit fell to $438.9 billion, its lowest level in eight years, spurred by gains in tax revenue that outpaced greater government spending.
The Congressional Budget Office expects the 2016 deficit to drop to $414 billion.
Desktop NewsClick to open Continuous News in a sidebar that updates in real-time.
East Iberville overcomes 14 point deficit to claim 1A State Title
LSU radio crew calls road games from home
Southeastern caps off historic weekend with sweep of Mississippi Valley
Central's Ethaniel Rizan big on size and heart
Baton Rouge CC gets huge win over Louisiana Community Christian