U.S. Racks Up a Record $220.9B Deficit in February

WASHINGTON – The federal government posted a $220.9 billion deficit in February, the highest monthly deficit on record and the 17th consecutive monthly deficit.

Federal outlays totaled $328.429 billion and receipts totaled $107.521 billion.

Economists had expected a $217.5 billion budget deficit for the month, according to the median estimate from Thomson Reuters.

For the fiscal year 2010 through February, the federal government had a $651.602 billion deficit on outlays of $1,452.140 billion and receipts of $800.538 billion.

This was the first year-over-year monthly increase in receipts since April 2008. In February 2009, receipts totaled $87.3 billion.

The deficit in January was an unrevised $42.6 billion.

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