U.S. budget deficit hit $316 billion in May, with annual shortfall up 14% from a year ago
1. U.S. debt deficit rose to $1.36 trillion so far this year. 2. May's deficit was $316 billion, up 14% YoY. 3. Financing costs surged, exceeding major spending categories. 4. Tax receipts increased 15% in May, offsetting some shortfalls. 5. Experts warn debt burdens may lead to market turmoil.