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27.11 - 17:03
Federal Government Ran $88 Billion Deficit at Start of Fiscal Year
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The federal deficit in October was $88 billion, a decrease at the start of the government’s new fiscal year.
Federal outlays in October fell by 9% to $406 billion compared with the previous year, not adjusting for calendar differences, the Treasury Department reported Thursday. The spending decline partially reflected lower outlays at agencies such as the Labor and Health and Human Services departments and an acceleration of some benefit payments into September because Oct. 1 fell on a weekend.
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