The CBO forecasts a full year deficit of $492B

The Treasury Department says the total  U.S. government budget deficit for May was $130B. The announcement comes after a big $106.9B surplus in April caused by the inflow of tax revenues. Although the budget for the first eight months is still down from the same period in 2013, the current shortage still totals $436.4B. The Congressional Budget Office forecasts a full year deficit of $492B ending September 30.