The US budget deficit rises sharply in November

The US Treasury said the US budget deficit rose by $57 billion, 30% from a year earlier, to $249 billion in November, and US Treasury interest costs on public debt rose by 53%, or $19 billion, during November. November revenue fell 10%, or $29 billion, from a year earlier, to $252 billion, while expenses rose 6%, or $28 billion, to $501 billion in November.

In the first two months of fiscal year 2023, interest payments at the Treasury increased by $48 billion, or 87%, and the Treasury deficit for the first two months of fiscal year 2023 decreased by 6%, or $20 billion, to $336 billion, with expenses declining by 2% and revenue increasing. 1% compared to the same period in the previous year.