US Budget Deficit Hits $307 Billion in February

In a recent report by the Bureau of Fiscal Service, the United States saw its budget deficit reach a staggering $307 billion in February. This significant figure highlights the ongoing financial challenges faced by the nation.

Breaking Down the Numbers

Total receipts for the month amounted to $296.4 billion, with individual income taxes contributing $135 billion and social insurance and retirement taxes adding $134 billion to the coffers.

On the expenditure side, total outlays for February stood at $603.4 billion. The lion's share of this spending went towards social security, which accounted for $129 billion, and income security, which took up $105 billion.