US budget deficit hits record high in February

AFP
March 11, 2010

The US government registered a record budget deficit in February, the 17th consecutive month of running in the red, the Treasury said Wednesday.

The February budget shortfall was 220.909 billion dollars, a 14 percent rise from a year ago and the biggest monthly gap on record.

The reading, however, was slightly better than the consensus analyst forecast of a deficit of 222 billion dollars.

The deepening budget gap was led by a 17 percent jump in government spending, which hit 328.429 billion dollars, a record for the month of February.

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