FILE- In this Feb. 22, 2019, file photo the dome of the U.S. Capitol Building is visible in reflection in Washington. On Friday, March 22, the Treasury Department releases federal budget data for February. (AP Photo/Andrew Harnik, File)

US budget deficit sets February record of $234 billion

March 22, 2019 - 1:10 pm

WASHINGTON (AP) — The federal government posted a record budget deficit in February, pushing the overall deficit for the first five months of the budget year up 39 percent from a year ago.

The Treasury Department says in its monthly report that the deficit hit an all-time high for February of $234 billion. That surpasses the old February deficit record of $232 billion set in 2012, the last year the deficit for the year topped $1 trillion. For the first five months of this budget year, the deficit totals $544.2 billion.

In its new budget sent to Congress last week, the administration is projecting that this year's deficit will total $1.09 trillion and will remain above $1 trillion for the next four years.

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