http://www.quicken.com/investments/news_center/story/?story=NewsStory/dowJones/20040413/ON200404131934000974.var&column=P0DFPWASHINGTON -- The federal government ran a monthly budget deficit of $72.70 billion in March, as the U.S. budget deficit climbed to nearly $300 billion for the first half of the fiscal year.
The March budget figures, released Tuesday, show that this year's deficit remains on track to surpass last year's record $374 billion shortfall. For the first six months of fiscal 2004, which began in October, the budget deficit was $299.47 billion. This compares with a deficit of $253.12 billion at the same point in fiscal 2003.
The March budget figures were broadly in line with Congressional Budget Office forecasts. CBO had predicted a $70 billion deficit for last month and a $297 billion deficit for the first half of the fiscal year. The February budget deficit was unrevised at $96.71 billion, Treasury said. A year ago, in March 2003, the government tallied a $58.89 billion deficit for the month
The administration's official forecast calls for a budget deficit of about $
521 billion in fiscal 2004. But some private-sector forecasts say the government probably won't rack up that much red ink.