WASHINGTON – The federal government posted a $42.6 billion deficit in January, the smallest monthly deficit since April and the 16th consecutive monthly deficit.
Federal outlays totaled $247.9 billion and receipts totaled $205.2 billion.
Economists had expected a $50 billion budget deficit for the month, according to the median estimate from Thomson Reuters.
The deficit was the second largest for the month of January—following only January 2009.
For the fiscal year 2010 through January, the government had a $430.7 billion deficit, a record, and about $35 billion more than through the first four months of fiscal 2009.
A Treasury Department spokesperson said the Obama administration has estimated the fiscal 2010 budget deficit will be 10% higher than the deficit in fiscal 2009. The government is currently at about 9% over fiscal 2009, he said.
