Deficit for 2014 reaches $377B, Treasury reports

The federal budget deficit for fiscal 2014 reached $377 billion by the end of February, the Treasury Department reported Thursday.

The government has spent $1.482 trillion since Oct. 1 and collected $1.105 trillion in that time period. 

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At this rate, the deficit is roughly on track with that of last year. The total for last year was $680 billion. 

The estimate closely matches the Congressional Budget Office estimate issued earlier this week. 

For the month of February, the government spent $195 billion more than it took in.