Economic Report: U.S. runs June budget deficit of $8 billion

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The US Treasury Department in Washington, DC is seen on August 08, 2011.

The numbers: The federal government’s June budget deficit narrowed to $8 billion, the Treasury Department reported Thursday, down nearly 90% from the same month a year ago.

The much-lower monthly figure was affected by shifts in the timing of certain federal payments, as well as receipts. Without those shifts the deficit would have been $55 billion, wider than June 2018’s $30 billion shortfall.

What happened: The government spent $342 billion in June, a decrease of 12% from last year. Receipts were $334 billion, up 6% from the same month a year ago.

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