US budget deficit dips to $128.7 billion in August [View all]

[Omaha Steve]

Source: AP-Excite

By MARTIN CRUTSINGER

WASHINGTON (AP) — The federal government ran a lower budget deficit this August than a year ago, remaining on track to record the lowest deficit for the entire year since 2008.

The August deficit was $128.7 billion, down 13 percent from the $147.9 billion deficit recorded in August 2013, the Treasury Department said Thursday in its monthly budget report.

With just one month left in the budget year, the deficit totals $589.2 billion, 22 percent below last year's 11-month total.

The Congressional Budget Office expects the government to run a sizable surplus in September that will allow the government to close out the budget year with a deficit of $506 billion, the lowest since 2008.

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