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Response to Demeter (Original post)

Sun Sep 15, 2013, 08:10 AM

38. Budget deficit shrinks in August from year earlier

http://www.reuters.com/article/2013/09/12/us-budget-deficit-idUSBRE98B0YB20130912

(Reuters) - America's budget deficit shrank in August compared to a year earlier, with government accounts helped by tax hikes and an improving economy.

The federal government sank $147 billion further into the red last month, the Treasury said on Thursday.

Washington this year has taken in only about seven cents in revenue for every dollar it spends, extending a decades-long trend of deficit spending.

The deficit widened sharply during the 2007-09 recession, which hit tax revenues and increased payments for unemployment benefits.

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