The Week Ahead

FEDERAL BUDGET Wednesday, Aug. 21, 2 p.m.

The U. S. government will probably post a deficit of $38.1 billion for July, according to economists surveyed by MMS International, a unit of McGraw-Hill Inc. That gap would be much larger than the $25.9 billion red-ink total of July, 1990. Slower tax receipts--a casualty of the recession--are widening the federal deficit. The White House estimates that the deficit will hit a record $282 billion in fiscal 1991, which ends on Sept. 30.

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