President Barack Obama gestures at the Blair House in Washington

President Barack Obama gestures at the Blair House in Washington, Thursday, Feb. 25, 2010, as he renewed his efforts for health care reform while meeting with Republican and Democratic leaders. (AP Photo/Pablo Martinez Monsivais)

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Budget deficit sets record in February

Flood of red ink continues

Updated: Wednesday, 10 Mar 2010, 2:39 PM EST
Published : Wednesday, 10 Mar 2010, 2:08 PM EST

WASHINGTON (AP) - The government ran up the largest monthly deficit in history in February, keeping the flood of red ink on track to top last year's record for the full year.

The Treasury Department said Wednesday that the February deficit totaled $220.9 billion, 14 percent higher than the previous record set in February of last year.

The deficit through the first five months of this budget year totals $651.6 billion, 10.5 percent higher than a year ago.

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