Deficit jumps to $215.2B in Feb.

The federal government recorded a budget deficit of $215.2 billion in February, up significantly from a year ago as the impact of the GOP tax cuts passed in December begin to surface.

The Treasury Department said yesterday the February deficit was 12.1 percent higher than a year ago, reflecting in part a drop of $5 billion in individual withholding taxes paid last month compared to a year ago, based on the new law.

For the first five months of this budget year, the deficit totals $391 billion, an increase of 11.5 percent from the same period a year ago.