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US government records $135.2 billion budget deficit in November, 21.4 percent below a year ago
Reported by: Associated Press
Reported: Wednesday, December 11, 2013 2:01 PM EST
The U.S. government ran a much smaller deficit through the first two months of the budget year than last year, signaling further improvement in the nation's finances.
Through the first two months of the budget year, which begins on Oct. 1, the deficit totals $226.8 billion — 22.7 percent lower than the same period a year ago.
Higher tax rates and a better economy have boosted revenue, while spending has slowed. Those trends led to an annual deficit of $680 billion in the 2012 budget year, the lowest deficit in five years. Private economists predict the annual deficit this year will fall further, to around $600 billion.