May Budget Deficit Up From Year Earlier

The U.S. government posted a budget deficit of $125 billion in May, more than twice the level registered in the same month last year.

So far this fiscal year, the budget deficit stands at $844.5 billion, narrower than at the same time a year ago.

Under the government's accounting system, October is the opening month of fiscal 2012. During fiscal 2011 which ended Sept. 30, the budget deficit totaled $1.296 trillion.

(Reporting by Pedro Nicolaci da Costa)