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US budget deficit rose in December

9 months 2 weeks 19 hours ago January 13, 2016 Jan 13, 2016 Wednesday, January 13 2016 January 13, 2016 2:14 PM in News
Source: Associated Press
By: Martin Crutsinger

WASHINGTON - The federal budget deficit increased in December and for the third month is running ahead of last year's pace.

The Treasury Department says the deficit totaled $14.4 billion in December. That compares to a small surplus of $1.9 billion in December 2014.

For the first three months of this budget year, the deficit stood at $215.5 billion, an increase of 22 percent over the same period a year ago.

For the entire year, private economists are forecasting a slight improvement from last year's deficit of $438.9 billion. Continued gains in employment are expected to boost federal tax receipts.

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