The fiscal deficit goal for the year that began on April 1 was lowered to 3.3% of gross domestic product from 3.4% set in February's interim plan, Finance Minister Nirmala Sitharaman said.
Slowing the growth of Social Security and Medicare must be part of the solution
The deficit for the fiscal year, which began in October, was $391 billion, compared to a deficit of $351 billion in the same period of fiscal 2017
Spending exceeded revenue by $587.4 bn in the 12 months, compared with a $439.1-bn deficit in 201
The August deficit was slightly lower than the $112.8 billion imbalance in July