US Reports $193 Billion Budget Gap in February

The United States recorded a budget deficit of USD 193 billion in February of 2016, compared with a USD 192 billion gap in the same month a year earlier and market expectations of a USD 200 billion shortfall.

In February of 2016, outlays totaled USD 362 billion, slightly up from USD 332 billion a year earlier. Social security accounted for USD 76 billion, Medicare for USD 45 billion, defense for USD 44 billion and interest on debt for USD 19 billion. Other outlays accounted for the remaining USD 178 billion. Meanwhile, receipts rose to USD 169 billion from USD 139 billion as social security and other payroll taxes accounted for USD 85 billion, individual income taxes for USD 65 billion and other taxes and duties for the remaining USD 22 billion.

Accounting for calendar adjustments, February would have shown a USD 202 billion deficit compared with a USD 194 billion gap a year earlier. 

The fiscal year-to-date deficit narrowed 9 percent to USD 353 billion from a USD 387 billion shortfall last year.

US Reports $193 Billion Budget Gap in February

US Treasury | Joana Taborda |
3/10/2016 7:28:23 PM