*AP, by Martin Crutsinger, AP Economics Writer, November 13, 2006
“The federal government started out its new budget year with a slightly higher deficit than last year as revenues and spending for October both set records.
The Treasury Department reported that the deficit for October totaled $49.3 billion, up 4.3 percent from the $47.3 billion imbalance recorded a year ago.
The budget deficit for the 2006 budget year, which ended on Sept. 30, dropped to a four-year low of $248.2 billion. However, the deficit for the current 2007 budget year is expected to resume rising.”
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