U.S. Budget Gap Narrows

Submitted by Mr. Right

The July budget gab has narrowed on lower spending and payment shifts.

The gap shrank 46.2 percent to $69.6 billion from a $129.4 billion shortfall in July 2011, the Treasury Department said [Friday] in Washington. Last month’s gap was smaller than the projected $90 billion deficit, according to the median estimate in a Bloomberg News survey. For the first 10 months of this fiscal year the deficit was 11.5 percent narrower than in the year-earlier period.

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