Year-Over-Year Deficit Climbs Higher

The federal government recorded a budget surplus in January for the second consecutive month, but the deficit for fiscal 1997’s first four months still was larger than the same period of 1996.

The January surplus totaled $13.4 billion, the Treasury Department said Monday, reducing the deficit for October through January to $46 billion. That was 27 percent higher than the red ink recorded during the first four months of fiscal 1996.