WASHINGTON–The US government's deficit through the first four months of this budget year is down 36.6 per cent from a year ago, signaling further improvement in the nation's finances.The Treasury Department says the deficit for January was US$10.4 billion.For the period from October through January, it totals US$184 billion. That is down US$106.4 billion from the same period a year ago and puts the country on track for a further improvement in the budget deficit.
The Congressional Budget Office is projecting that the deficit for the current budget year will decline to US$514 billion. That would be the smallest imbalance in six years. The deficit last year was US$680.2 billion.Rising tax revenues from an improving economy and government spending constraints are helping to trim the deficit.
AP