US budget deficit reaches $193B in March

By Tuba Sahin

ANKARA (AA) - The US federal budget deficit amounted to $193 billion in March, according to the Treasury Department data released on Tuesday.

Total receipts were $315 billion against outlays of $508 billion, the figures showed.

As for receipts, individual income taxes totaled $151 billion, while social insurance and retirement was at $120 billion.

For outlays, income security came in at $96 billion, while social security stood at $103 billion and health at $86 billion.

As of March, the total deficit reached $668 billion since the beginning of the 2022 fiscal year that started on October 2021.