July Deficit Hits $20 Billion
United Press International
WASHINGTON —
The federal government ran $20.04 billion in the red in July, bringing its 1985 deficit to $175.6 billion with two months left to go in the fiscal year, the Treasury Department said today.
The month’s deficit was a little above average for the year so far. Two more months of the same kind of revenue shortfalls will be more than enough to reach the record $203-billion 1985 deficit projected by the Office of Management and Budget. The previous record was 1983’s $195.4 billion.
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