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Budget deficit improves, a bit

The federal budget deficit through the first four months of the budget year is expected to be about $54 billion lower than last year.

By Associated Press | Updated on February 12, 2013

 WASHINGTON (AP) — The federal budget deficit through the first four months of the budget year is expected to be about $54 billion lower than last year.

The Congressional Budget Office expects the January deficit will total $2 billion and for the period from October through January, the CBO is looking for a deficit of $295 billion. That would be an improvement of $54 billion from the deficit run up during the same period a year ago. The government’s budget years runs from Oct. 1 to Sept. 30.

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