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Budget deficit shrinks

3 years 3 months 1 week ago February 12, 2014 Feb 12, 2014 Wednesday, February 12 2014 February 12, 2014 6:41 PM in News
Source: Associated Press
By: Michael Marsh

WASHINGTON- The government's budget deficit is predicted to shrink to its lowest level in six years if trends continue.

It's down more than 36% from a year ago which signals more improvement in the U.S. economy.

From October to January, the deficit was $184-billion, down $106-billion from the same time last year.

Now, the Congressional Budget Office projects the deficit in the current budget year will fall to $514-billion.

Spending constraints and rising tax revenues are helping to lower the deficit.

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