WASHINGTON — The federal government posted a $165 billion deficit in July, the largest gap since February, the Treasury Department reported Wednesday.
Outlays totaled $320.6 billion, the second highest for a July, trailing only 2009. Receipts totaled $155.5 billion and rose on a year-over-year basis for the third consecutive month. The government has had a deficit for 22 straight months.
Economists estimated the July deficit at $169 billion, according to the median estimate from Thomson Reuters. For the fiscal year through July, the federal government logged a $1.17 trillion deficit.
