CORRECTION - WASHINGTON - UPDATE 1-U.S. June budget gap $94.32 bln, record for June

WASHINGTON, July 13 - The U.S. government rang up a $94.32 billion budget deficit in June, a record for the month, as the price tag for efforts to prop up the economy, banks and automakers mounted and revenues weakened.

The Treasury Department said on Monday that June marked the ninth straight month in which the government had run a deficit. In June 2008, the budget enjoyed a $33.55 billion surplus.

Through the first nine months of fiscal 2009, the government has racked up a $1.086 trillion deficit. That compares with a shortfall of only $285.85 billion in the comparable year-ago period, underscoring the sharp deterioration in the U.S. fiscal picture.

The record budget deficit for June was not an all time high, which was $194 billion in February, the department said.

In June, receipts totaled $215.36 billion, down from $259.91 billion in June 2008, the 14th straight month in which monthly receipts have been lower than the previous same month for a year ago, a department official said.

Outlays totaled $309.68 billion, a record for June and compared with $226.37 billion in June 2008.

Outlays included $5.4 billion in purchases of mortgage-backed securities from major U.S. mortgage finance sources Fannie Mae <FNM.N> and Freddie Mac <FRE.N>,which the Treasury has undertaken to help reduce mortgage rates.