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Federal Deficit Widened to $85 Billion in December
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WASHINGTON—The federal government ran an $85 billion deficit in December, a wider shortfall than in the same month a year earlier, as the government’s debt burden nears its legal limit.
Compared with December 2021, the government brought in $32 billion less in revenue last month, for a total of $455 billion, and spent $32 billion more, for a total of $540 billion. Without adjusting for calendar differences, the overall gap between spending and revenue in December was $64 billion more than the $21 billion deficit in the same month in 2021, according to the Treasury Department.
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