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US Budget Deficit Hits Eight-Year Low

The U.S. government's budget deficit fell to its lowest level in eight years for the fiscal year that ended September 30, as the recovering economy boosted tax revenue. Treasury Department officials reported Thursday that the deficit fell 9 percent to $439 billion, an amount equal to 2.5 percent of the total output of the world's largest economy.   While the deficit is growing more slowly than it has in other years, adding it to past deficits brings the total national debt...

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