U.S. posts $1T budget gap, full-year may be lower

THE U.S. BUDGET deficit has exceeded $1 trillion for the first 11 months of the fiscal year, but may lower by fiscal year's end. / BLOOMBERG FILE PHOTO/ANDREW HARRER
THE U.S. BUDGET deficit has exceeded $1 trillion for the first 11 months of the fiscal year, but may lower by fiscal year's end. / BLOOMBERG FILE PHOTO/ANDREW HARRER
WASHINGTON – The United States budget deficit surpassed $1 trillion in the first 11 months of the fiscal year through August, according to data from the Treasury Department, though it’s likely the year-end deficit could narrow from a tax revenue bump. September, the final month of the fiscal year, typically produces a surplus because quarterly…

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