Budget Deficit in U.S. Narrowed to $57.6 Billion in May
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The U.S. government posted a budget deficit of $57.6 billion in May, narrower than a year earlier, reflecting increasing tax revenue and a reduction in the estimated cost of the government’s financial industry bailout.
In May 2010, the shortfall was $135.9 billion, according to the Treasury Department’s monthly budget statement, released today in Washington.