U.S. budget defict widened in February
WASHINGTON -- The federal government posted a budget deficit of $44.3 billion in February, wider than the $38.36 billion in red ink a year earlier, the Treasury Department said.</br></br>But the first five months of fiscal 1996 looked a bit better, with the deficit shrinking to $80.8 billion from $96.1 billion in the same period a year earlier. The Clinton administration, often boasting that its programs have reduced the deficit, has forecast that the fiscal 1996 deficit will total $158 billion, down from $164 billion in the previous year, and that the country will show a surplus in 2002.</br></br>February's budget gap compared with a surplus of $19.27 billion in January. The government often shows a surplus in December and January, in line with tax payment cycles.</br></br>In its statement, the Treasury said receipts totaled $89.35 billion last month, compared with $82.54 billion a year earlier and $142.92 billion in January. Outlays totaled $133.64 billion last month, compared with $120.90 billion a year earlier and $123.65 billion in January.</br></br>---