U.S. monthly deficit drops to $88 billion in October

According to the US Treasury Department, in October the monthly budget deficit was $88 billion.

COLUMBIA, S.C. (WOLO)— According to the US Treasury Department, in October the monthly budget deficit was $88 billion.

That number is 47% lower than the $165 billion deficit reported in October of last year and below economists’ expectations of $90 billion.

During October, unadjusted spending dropped 9% to $406 billion and revenues increased 12% to $319 billion.