Treasury Reports More Red Ink: The government...

Treasury Reports More Red Ink: The government rang up a $31.5-billion budget deficit in the first month of the 1991 fiscal year, the Treasury Department said, reflecting the rising cost of keeping troops in the Middle East while bailing out bankrupt savings and loans at home. The October deficit was 21% higher than in October, 1989, when the shortfall was $26.1 billion, and a whopping 51% more than the $20.8-billion shortfall in September of this year. The report for October pointed to a growing gap between government spending and income at a critical time when the economy is weakening and tax revenues are likely to decline.