U.S. posts record $180.7 billion budget deficit in July


The United States set another record for public debt in July, but don't look for the total to discourage investors: They're focusing on the economic recovery.

The federal budget deficit increased to $180.7 billion in July, the U.S. Treasury announced Wednesday. Outlays increased 26 percent from a year ago to $332.2 billion, while receipts fell six percent to $151.5 billion, Bloomberg News reported.

Economists surveyed by Bloomberg News had expected the July deficit to total $180 billion. The U.S. posted a $94.3 billion deficit in June.