US govt deficit widens to $120 bn due to healthcare, military spending hike

The US government's deficit widened to $120 billion in July, fueled by increases in spending on health care and the military, according to data released on Monday by the Treasury Department. The size of the deficit was in line with expectations in a Reuters poll of analysts.

The Treasury Department said federal spending in July was $371 billion, up 23% from the same month in 2018, while receipts were $251 billion, up 12% compared with July 2018. The fiscal-year-to-date deficit was $867 billion, compared with $684 billion in.

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