US budget deficit stands at $249B in November

By Ovunc Kutlu

ANKARA (AA) - The US federal budget deficit stood at approximately $249 billion in November, the second month of the 2023 fiscal year, according to Treasury Department figures released Monday.

In November, total receipts, or income, were around $252 billion, against total outlays, or spending, of $501 billion, the agency's figures showed.

As for receipts, individual income taxes were $114 billion, while social insurance and retirement came in at $115 billion.

For outlays, social security was $104 billion, while health stood at $76 billion.

In the 2022 fiscal year, which ran from Oct. 1, 2021, through Sept. 30, 2022, the budget deficit had stood at $1.37 trillion with almost $4.9 trillion in income against around $6.3 trillion in spending.