by Mike Maharrey
GoldSeek
Thanks to record tax receipts, the January budget deficit was “only” $21.93 billion in January.
In February, government receipts fell back to normal. Spending was normal too – normally high. As a result, the February budget deficit was back to normal – massive.
The Biden administration ran a $296.28 billion budget shortfall last month, according to the latest Monthly Treasury Statement. With that, the fiscal 2024 budget deficit is knocking on the door of $1 trillion ($828.14 billion) with more than half a year to go.
The U.S. Treasury took in $271.13 billion in February. That was a slight increase from $262.11 billion in government receipts a year ago.