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U.S. Budget Deficit Narrowed in May as Pandemic Spending Eased
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wsj.comWASHINGTON—The federal budget ran a $66 billion deficit during May, a 50% decline from a year earlier as the government slashed spending on pandemic programs.
Federal outlays in May fell by 24% to $455 billion, not adjusting for calendar differences, the Treasury Department reported Friday. That reflected a reduction in spending on pandemic programs at the Treasury and Labor Departments and the Small Business Administration.
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