The deficit reached a record $220.7 billion in the fiscal year 1986.
It was the fourth straight month that the deficit reached a new high.
It predicted the deficit would reach $3.8 billion this year.
Some Democrats say they worry that the deficit may reach $750 million.
Last year the American deficit reached a record $173.7 billion.
But their luck ran out last year as the deficit reached $300 million.
The deficit could reach $150 billion by the end of the year.
By 2002, the office said, the deficit could reach $423 billion.
Despite the difficulties, it is expected that the deficit will reach 3.3% in 2013.
By the time Giuliani took office, the city's deficit had reached $2.3 billion.