The Week Ahead

FEDERAL BUDGET Monday, July 22, 2 p.m.

The U. S. Treasury is expected to report a $4 billion deficit in June, according to economists surveyed by MMS International, a division of McGraw-Hill Inc. That would be an improvement from last June's $11.1 billion gap, but more red ink is on the way. The White House has announced that the deficit for fiscal 1991, which will end on Sept. 30, will total a record $282.2 billion. And 1992's budget will be $348.3 billion in the red. The large increase for next year is partly the result of delays in bailing out failing thrifts and banks. The postponement will shift the government's costs from this year into 1992. The budget office also revised downward its projections for tax receipts next year, although it is forecasting a relatively healthy 3.6% rise in the real gross national product next year.

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