NATION : U.S. Posts $31.4-Billion Deficit
The United States posted a budget deficit of $31.46 billion in October in the opening month of fiscal 1991, the Treasury Department reported today.
The shortfall follows a surplus of $20.84 billion in September and a deficit of $26.08 billion in October, 1989, according to the department’s regular budget statement.
Last month’s outlays totaled $110.17 billion, while receipts totaled $78.71 billion, the government said.
Under the category “contribution to the defense cooperation account,” the government received $1.62 billion in October, mainly for the Operation Desert Shield buildup in the Persian Gulf. Overall defense spending totaled $24.09 billion for the month.
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