US June federal budget deficit $120 billion vs $138 billion expected

May was -$239 billion Last June was a surplus of $108 billion Year to date deficit of $1.367 trillion vs $1.337 trillion a year ago June customs duties of negative $25.6 billion due to refunds The customs refunds made this number look worse that it was, but economists should have had that built into the consensus. In any case, it's not a pretty picture and…

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