U.S. Government Ran $59.7 Billion Deficit in June

WASHINGTON - The federal government ran a $59.7 billion budget deficit in June after posting an unrevised $124.6 billion deficit the previous month, the Treasury Department reported Thursday.

The June deficit represents a 39% increase over the $43.1 billion gap in June 2011, but was smaller than the median $75.8 billion deficit estimated by economists polled by Thomson Reuters.

Outlays totaled $319.9 billion, a 9% increase over the $292.7 billion in June 2011.

Receipts were $260.2 billion, a 4% bump from $249.7 billion a year ago.

For the fiscal year to date, the government's deficit is $904.2 billion. That's down about $66 billion, or 7%, from the $971 billion deficit through the same point in fiscal 2011.

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