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Budget deficit shrinks 35 percent

The U.S. government posted a narrower budget deficit in August compared with a year ago, keeping the annual gap on track to be the smallest in five years.

By Christopher S. Rugaber | Updated on September 13, 2013
In this file photo, members of Congress walk down the steps of the House of Representatives on Capitol Hill in Washington. (AP Photo/J. Scott Applewhite, File)

WASHINGTON (AP) — The U.S. government posted a narrower budget deficit in August compared with a year ago, keeping the annual gap on track to be the smallest in five years.

The deficit for August was $147.9 billion, the Treasury reported Friday. That brought the annual budget gap through the first 11 months to $755 billion, or 35 percent lower than the nearly $1.2 trillion in red ink for the same period last year.

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