The US government recorded a deficit of $378 billion in March

The US Treasury said that the US government recorded a budget deficit of $378 billion in March, compared to a budget deficit of $193 billion in the same month last year.

The March deficit raised the fiscal deficit to date to $1.1 trillion, an increase of 65% over last year, and when adjusted according to calendar effects, the deficit for March was $305 billion, compared to an adjusted deficit of $187 billion in March 2022.

Total unadjusted revenues were $313 billion in March, down 1% from $315 billion in March 2022, while unadjusted expenses were $691 billion, up 36% from the same month last year.