2010.09.1315:26:00UTC+00U.S. Budget Deficit Narrows To $90.5 Billion In August

Monday afternoon, the Treasury Department released its report on the U.S. budget in the month of August, showing that the budget deficit came in slightly narrower than economists had been expecting.

The report showed a budget deficit of $90.5 billion in August compared to a deficit of $103.6 billion in the same month a year ago. Economists had expected a deficit of $95.0 billion.

While the deficit was narrower than expected, it still marked the 23rd consecutive monthly deficit and points to a $1.3 trillion deficit for the year, the second largest on record.

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