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Federal tax receipts also record double-digit increase from a year ago.
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The national debt clock is displayed in Washington on April 14, 2025. Madalina Vasiliu/The Epoch Times
By Andrew Moran and Nathan Worcester
Updated:
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The U.S. government deepened its fiscal year financial shortfall in May, but Treasury Department data signaled that fiscal progress might be happening.
According to the Monthly Treasury Statement, the federal government registered a $316 billion budget deficit last month, a 9 percent decline from the same month a year ago.
