US budget deficit jumps 23% through June

FILE - This June 12, 2019, file photo shows the U.S. Capitol dome on Capitol Hill in Washington. On Thursday, July 11, the Treasury Department releases federal budget data for June.

WASHINGTON (AP) — The U.S. budget deficit increased by $140 billion during the first nine months of this budget year to $747.1 billion as government revenues and spending both hit records.

The Treasury Department reported Thursday that the deficit for the current fiscal year through June is up 23.1% over the same period a year ago with receipts rising by 2.7% while spending increased 6.6%.

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