Federal Deficit Widened to a Record $249 Billion Last Month

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The monthly federal deficit was a record-setting $249 billion in November, $57 billion wider than the same month last year, as Republican control of the House puts the government’s finances back in the political spotlight. 

The federal government spent $501 billion last month, a $28 billion increase to a record high, while tax revenue dropped by $29 billion compared with last November, with the government collecting $252 billion. Adjusting for calendar differences in last year’s tax receipts, government tax revenue dropped $13 billion compared with last November, the Treasury Department said Monday. 

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