The US budget deficit grew to $666 billion in the 2017 fiscal year that ended on Sept. 30, according to data released Friday, after lawmakers took a step toward enacting $1.5 trillion in tax cuts.
The deficit increased by 13.6 percent, or $80 billion, over the prior fiscal year.
“Growth in spending outpaced growth in tax receipts for the second year in a row as a result of historically subpar economic growth,” the Treasury Department said in releasing the figures.
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