Deficit at more than $200 billion
The February US federal budget deficit was $234.0 billion in February. That’s worse than the $227B expected and the largest shortfall for any single month on record.
- Receipts up 7.5% y/y
- Spending up 8.2% y/y
- Fiscal year to date (since Oct) receipts -0.6% y/y
- Fiscal year to date spending +8.7%
- Fiscal year to date deficit $544B vs $390B a year ago
If the economy is slowing — and the signals from the market aren’t good — this is going to go from bad to ugly in short order. The previous record was in February 2012.