November Deficit Hits $29 Billion

WASHINGTON — The federal government ran up a $29-billion deficit in November and the debt figure was 7.4% more than that of November, 1987, the government reported Wednesday.

The Treasury Department said revenue was $64.4 billion last month, or $7.4 billion more than a year earlier, but the government spent $93.4 billion, or $9.4 billion more than it had in November, 1987.

In the first two months of fiscal 1989, which began Oct. 1, the deficit was 2.4% less than in that period of fiscal 1988. That occurred because the October deficit was 10.9% less than a year earlier, held down by declines in farm subsidy payments and a shift in military payroll dates.