US budget deficit on track to hit 6-year high
WASHINGTON — The federal government racked up a $76.9 billion deficit in July, with increased government spending and tax cuts keeping the country on track to record its biggest annual deficit in six years.The Treasury Department reported Friday that in the first 10 months of this budget year, the deficit totaled $684 billion, up 20.8 percent from the same period last year.Revenues are up only 1 percent this year, the increase held back by a big drop in corporate […]
