Treasury reports $232B deficit in February

The monthly U.S. budget deficit grew to $232 billion in February, the Treasury Department reported Monday. 

The February figure brings the total budget deficit for the first five months of fiscal 2012 to $581 billion.

ADVERTISEMENT
February is typically the worst month for the United States due to the timing of tax receipts and payments. February 2011 had a deficit of $223 billion. 

Revenue this February fell from $234 billion to $103 billion while spending increased to $335 billion from $262 billion in January.

The monthly Treasury statement contains a revised number for the final 2011 budget deficit based on more complete data. Treasury says the deficit was $1.297 trillion last year. President Obama's budget office has predicted a deficit of $1.327 trillion this year.