U.S. Budget Deficit Widens in August from Year Ago

Politics Reuters

The U.S. budget deficit widened to $191 billion in August, mostly due to monthly benefit payments that were made earlier because of the September labor day holiday weekend.

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The deficit in August 2011 was $134 billion.

The Treasury Department said on Thursday that receipts totaled $179 billion in August, up $10 billion from the same period last year.

Monthly outlays totaled $369 billion, up $66 billion from August 2011 as the government accelerated $57 billion in benefit payments that would have been made in September.

For the first 11 months of fiscal 2012, the government's budget deficit totaled $1.164 trillion compared with $1.234 trillion in the same period last year. (Reporting By Rachelle Younglai; Editing by Neil Stempleman)