US budget deficit to rise for 1st time since 2009

The U.S. budget deficit is expected to rise for the first time in 2009 due to a slowdown in tax receipts, especially from corporate profits.

The Congressional Budget Office says the deficit for the fiscal year that ends next month will expand to $549 million, or 3 percent of gross domestic product.

That's up from an earlier prediction of $500 billion and last year's $438 billion deficit.

Read more from The Wall Street Journal.