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Federal Budget Deficit Narrowed in February
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WASHINGTON—The federal government ran a budget deficit of $217 billion in February, a narrowing of the shortfall from the same month last year, as spending on pandemic aid slowed and a stronger economy generated additional tax revenue.
Government receipts for February rose 17% from a year earlier to $290 billion, largely driven by greater individual income and payroll-tax collections, the Treasury Department reported Thursday. The government spent $506 billion last month, a 9% decrease from the year earlier, as bolstered federal support for unemployment benefits and small businesses ended. The deficit for February of last year was $311 billion.
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