Federal Budget

Thursday, Sept. 22

The MMS forecast is that the federal government will post a $24 billion deficit in August, not very different from the $23.1 billion recorded a year earlier. With just one month to go in fiscal 1994, the deficit is on track to total less than $200 billion, the lowest deficit since 1989. Receipts are growing far faster than outlays, allowing Washington to mop up some of its flood of red ink. In 1993, the federal deficit hit $255 billion.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.