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Fiscal 2013 sees 1st deficit

The U.S. government’s budget deficit widened in October, the first month of the new fiscal year, as President Barack Obama and Congress seek an agreement to lower future gaps and avoid the “fiscal cliff.” The deficit expanded 22 percent to $120 billion from a $98.5 billion shortfall in October 2011, the Treasury Department said Tuesday in Washington. The gap exceeded the $113 billion median estimate in a Bloomberg survey of ...

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