Federal deficit balloons to record in February

Monday, March 25, 2019 | Tag Cloud Tags: , ,

(Worthy News) - The federal government's budget deficit grew to $234 billion in February, the largest monthly shortfall on record, according to a Treasury Department report Friday.

Spending jumped 8 percent while receipts increased 7 percent, according to a report that came out later than expected because of the partial government shutdown that ended Jan. 25. The previous monthly deficit record was $231.7 billion in February 2012. In 2018, the deficit was $215 billion.

Overall, the federal government spent $401billion in February while taking in $167 billion. The budget deficit has increased 39 percent for the fiscal year compared to the same period a year ago, MarketWatch reported. [ Source: UPI (Read More...) ]

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