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Tax revenue jumps 22% in April, but U.S. deficit still looms large

From npr.org

The U.S. Treasury ran a surplus last month, thanks to the April 15th tax deadline. But the federal government is still on track to end the fiscal year more than $1.5 trillion in the red. April tax receipts totaled $776 billion — a 22% increase from the previous year. Treasury officials credited part of the jump to the growing number of people working and rising wages. Government spending for the month rose 23% from a year ago, with the biggest increase — $26 billion — coming from higher interest payments on the federal debt. Interest payments have gone up as a result of both rising debt and today's high interest ... (full story)

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