WASHINGTON (AP) -- The government says the federal budget deficit soared in July, pushed higher by economic stimulus payments and $15 billion in outlays to protect depositors at failed banks.
The Treasury Department reported Tuesday that the deficit for July totaled $102.8 billion, nearly triple the $36.4 billion deficit recorded in July 2007.
The deficit beats the $97 billion gap that Wall Street economists had been expecting for July.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
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