U.S. Ran $23 Billion Budget Deficit in December, Treasury Says

Deficit was about 7% wider than a year ago through the first 3 months of the fiscal year

WASHINGTON—The federal budget deficit for December narrowed from a year ago, amid flat government spending and higher tax receipts, the Treasury Department said Thursday.

Federal spending still exceeded revenue by $23 billion last month, compared with a $27 billion budget gap in December 2016. Through the first three months of the fiscal year, which began Oct. 1, the deficit was about 7% wider than it was the same period a year earlier, the Treasury said.

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