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Federal deficit record for a November
Market Watch
By Rex Nutting, MarketWatch
December 12, 2005

WASHINGTON (MarketWatch) -- The U.S. federal budget deficit widened as expected to $83.1 billion in November, the largest deficit of any November, the Treasury Department said Monday.

A year ago, the deficit was $57.9 billion.

Earlier, the Congressional Budget Office had estimated the deficit would rise to $82 billion.

In November, receipts rose 3.2% to $138.8 billion, while outlays were up 15.3% to $221.9 billion. Read the full report.

For the first two months of the 2006 fiscal year, the deficit has increased about 13% to $130.2 billion from $115.2 billion at this time last year.

Receipts are up 2.5% year-to-date, while outlays are up 8.3%.

Individual income tax receipts rose by 9.1% year-to-date to $133.6 billion. Corporate income tax payments fell 10.1% to $9.4 billion.

About $9 billion of the difference in outlays between the two years is due to spending by the Homeland Security Department on relief and recovery from the hurricanes, CBO said. Interest payments increased by about $12.4 billion.

The White House expects the deficit to rise to $341 billion from $318.5 billion in 2005.