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International Business Times
International Business Times
Business
Ann Resuma

US October Budget Deficit Swells 287% To $257 Billion

Deficit United States Donald Trump Elon Musk

The U.S. budget deficit exponentially increased and reached around $257 billion in October, primarily due to one-off factors.

According to a report by the Treasury Department released on Wednesday, the figure was a sharp increase of 287% from October 2023's $67 billion deficit. In October 2023, the deficit was cut nearly in half due to the calendar adjustments made in benefit payments.

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