US federal deficit hits record high in November
The budget deficit of the US government increased sharply and hit a record high in November, the Treasury Department reported on Monday. The department said that the US government deficit totaled US$83.1 billion in the month, the highest imbalance ever recorded in November. For November, the US government revenues totaled US$138.8 billion, up 3.2 percent from November a year ago. Spending totaled US$221.9 billion in the month, up 15.3 percent from November 2004. For the first two months of the fiscal year of 2006 which began from Oct. 1, the US government's budget deficit totaled US$130.3 billion, 13.1 percent higher than the deficit of US$115.2 billion recorded during the same period last year. Most analysts are forecasting that the US budget deficit will rise to around US$350 billion this fiscal year, comparing with US$318.5 billion in the last year.
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