WASHINGTON—The U.S. budget gap more than doubled in May, pushing the deficit for the fiscal year to near $2 trillion, as federal revenues plunged and government spending soared to help combat the coronavirus pandemic. The federal deficit last month widened to $424 billion, more than twice what it was in May 2019, the Congressional Budget Office estimated Monday. For the first eight months of the fiscal year, which began in October, the deficit totaled $1.9 trillion, compared with $739 billion in the same period a year earlier,...

Source: Wall Street Journal June 08, 2020 15:29 UTC