US Government Budget Deficit Beats Expectations in May

The US government's budget deficit rose to $208 billion in May, higher than the $185.5 billion deficit forecast.


The US government’s budget deficit rose to $208 billion in May, higher than the $185.5 billion deficit forecast. Higher spending on military and social welfare initiatives like Medicare drove up spending and offset a slight increase in revenues earned during this period.

Overall spending of the US government increased to $440 billion, 21% higher than the spending in May 2018. Tariff hikes on Chinese imports helped the government rake in higher earnings, with customs duties generating $5 billion in revenue for May 2019, higher than the $3 billion for the same month last year.

Overall fiscal deficit for 2019 so far has touched $739 billion, significantly higher than the $532 billion for the same period in 2018.

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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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