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Budget deficit on track below $1 trillion

3 years 3 months 2 weeks ago June 12, 2013 Jun 12, 2013 Wednesday, June 12 2013 June 12, 2013 6:56 PM in News
Source: Associated Press
By: Michael Marsh

WASHINGTON- The government says the budget deficit is on track to finish below $1 trillion for the firs time since 2008 even though it widened last month by $139 billion. Steady economic growth and higher tax rates boosted the government's revenue by 15% this year while government spending barely increased. The budget years ends in September and the Congressional Budget Office estimates deficits won't grow much until then. The deficit last year was $1.09 trillion.

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