Economics
U.S. Posts $1 Trillion Budget Gap; Full-Year May Be Lower
- Deficit was $1.07 trillion in first 11 months of fiscal year
- Last month of fiscal year often a surplus due to tax payments
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The U.S. budget deficit surpassed $1 trillion in the first 11 months of the fiscal year through August, according to data from the Treasury Department, though the year-end deficit may narrow from a tax revenue bump.