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Budget Deficit in U.S. Narrows as Job Gains Bolster Revenue

The budget deficit in the U.S. last month narrowed more than economists forecast as rising employment and a rallying stock market boosted revenue to a November record.

Spending exceeded revenue by $135.2 billion, compared with $172.1 billion in November 2012, the Treasury Department said today in Washington. The median estimate in a Bloomberg survey of 17 economists was for a $140 billion gap. Receipts rose 12.8 percent to the highest ever for the month, while spending fell 4.8 percent.