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US budget deficit totals $10.4 billion in January

February 12, 2014

WASHINGTON (AP) — The U.S. government’s deficit through the first four months of this budget year is down 36.6 percent from a year ago, signaling further improvement in the nation’s finances.

The Treasury Department says the deficit for January was $10.4 billion.

For the period from October through January, it totals $184 billion. That is down $106.4 billion from the same period a year ago and puts the country on track for a further improvement in the budget deficit.

The Congressional Budget Office is projecting that the deficit for the current budget year will decline to $514 billion. That would be the smallest imbalance in six years. The deficit last year was $680.2 billion.

Rising tax revenues from an improving economy and government spending constraints are helping to trim the deficit.

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