U.S. Deficit Grows to $110.6 Billion, 13% Over ’90 Pace
The government sank $26 billion more into debt in February, but the month’s red ink was 29.9% less than during the same period of fiscal 1990, the Treasury Department reported Thursday.
The additional debt in February followed a $1.76-billion surplus in January and raised the deficit to $110.6 billion for the first five months of the fiscal year. The total so far this year is 13.4% more than at the same point in fiscal 1990.
The Bush Administration has projected that this year’s gap will reach a record $318.1 billion, up from $220.4 billion last year.
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