CBO said Monday government revenues from collection of individual and corporate income taxes grew about 3 percent to $416 billion from October to November 2015.
Federal spending on domestic and military programs rose 6 percent to about $616 billion during the same two-month period, CBO noted.
According to the report, outlay growth over the past two months was partly due to increased payments for Medicare, Medicaid and Social Security benefits.
CBO added Justice Department expenditures increased by $8 billion and the Defense Department‘s military investments grew by about $2 billion during the fiscal 2016’s first two months.