Budget deficit $85.47 bln, record for March
WASHINGTON (Reuters) - The U.S. government posted an $85.47 billion federal budget deficit in March -- its highest in history for that month, the U.S. Treasury Department reported on Wednesday.
The March shortfall between government income and spending was up from a $71.21 billion deficit in March 2005. While it was a record for any March, it was less than the February 2006 monthly deficit that was a record for any one-month period at $119.20 billion.
The March deficit figure easily outstripped Wall Street economists' forecasts for a $73 billion shortfall.
. . .
On March 3, the Congressional Budget Office estimated the U.S. budget deficit for the full fiscal 2006 year, which ends on September 30, will hit $371 billion.
That would be up from a $318 billion budget deficit in fiscal 2005 and would put the deficit at 2.8 percent of gross domestic product compared with 2.6 percent last year, CBO said.
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The March shortfall between government income and spending was up from a $71.21 billion deficit in March 2005. While it was a record for any March, it was less than the February 2006 monthly deficit that was a record for any one-month period at $119.20 billion.
The March deficit figure easily outstripped Wall Street economists' forecasts for a $73 billion shortfall.
. . .
On March 3, the Congressional Budget Office estimated the U.S. budget deficit for the full fiscal 2006 year, which ends on September 30, will hit $371 billion.
That would be up from a $318 billion budget deficit in fiscal 2005 and would put the deficit at 2.8 percent of gross domestic product compared with 2.6 percent last year, CBO said.
Link Here
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