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U.S. posts record 220.9 billion-dollar budget deficit.

The U.S. budget deficit fell to a record 220.9 billion dollars last month, a 14 percent higher shortfall than the previous

record 193.9 billion dollars in February of last year, the U.S. Treasury

Department reported on Wednesday. The latest report marked the 17th consecutive month that the U.S.

government has posted deficits. The cumulative deficit for fiscal 2010, which started in October, reached

651.6 billion dollars, up from 589.8 billion in the same period the year

before, the Treasury Department said. The Obama administration is predicting the deficit will reach 1.56 trillion

dollars this year. Receipts last month totaled 107.5 billion dollars, up from 87 billion

dollars a year ago, while outlays totaled 328.4 billion, up from 281 billion,

the report noted. President Barack Obama last month signed into law a record 1.9

trillion-dollar increase in the government's debt limit, bringing the new cap

to about 14.3 trillion dollars.

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Publication:Kuwait News Agency (KUNA)
Date:Mar 11, 2010
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