US federal budget deficit rose to $296bn in February due to higher interest costs and tax-filing outlays, raising the first five months' deficit to $828bn.
The US federal budget deficit rose in February due to increased interest costs and higher tax-filing outlays, reaching a total of $296bn. The first five months of the fiscal year saw a $106bn increase in the deficit to $828bn, driven by rising interest costs on the national debt. Receipts and outlays both hit year-to-date records, with receipts up 7% to $1.856tn and outlays up 9% to $2.684tn.
March 12, 2024
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