Federal budget deficit jumps to $136.7 billion in November

WASHINGTON (AP) — The federal government's deficit jumped sharply in November but for the first two months of the budget year is running 10 percent lower than a year ago.

President-elect Donald Trump during the campaign proposed significant cuts in taxes and increased spending on defense and infrastructure which outside analysts have estimated will add trillions of dollars to current projected deficits if Congress goes along with the proposals without seeking offsetting deficit savings.

Before leaving town, Congress last week passed a second stop-gap funding bill which will finance the government in the current budget year through April, allowing the new Trump administration to take office and submit its first budget to Congress.