The federal government ran an $88.4 billion deficit in May, the Treasury Department reported Monday.

Outlays in May totaled $328.844 billion. Receipts totaled $240.418 billion.

The shortage was larger than the median $86.5 billion deficit predicted by economists polled by Thomson Reuters.

In May 2016, the government ran a $53.5 billion deficit.

In April, the government ran a $182.4 billion surplus.

For the fiscal year to date, the government has a $432.9 billion deficit, compared to a $405.4 billion deficit for the similar period in fiscal 2016.

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Gary Siegel

Gary Siegel

Gary Siegel has been at The Bond Buyer since 1989, currently covering economic indicators and the Federal Reserve system.