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Reuters
U.S. posts $39 billion January deficit after pension fund bailout
WASHINGTON (Reuters) -The U.S. government posted a $39 billion budget deficit for January after a $119 billion monthly surplus a year earlier, as revenues dipped and one-time costs, including the bailout of a union pension fund, pushed outlays sharply higher, the Treasury Department said on Friday. The report, which comes as Treasury employs extraordinary cash management measures to avoid breaching the federal debt limit, showed receipts at $447 billion last month, down $18 billion, or 4%, from January 2022. The Treasury has said its ability to pay U.S. obligations may not last past early June unless Congress raises the $31.4 trillion statutory debt ceiling.
