U.S. Government Ran $260 Million Deficit in December

WASHINGTON — The federal government ran a $260 million budget deficit in December after running $172.1 billion in the red the previous month, the Treasury Department reported Friday.

The December deficit was much smaller than the $20 billion shortfall projected by economists polled by Thomson Reuters, and well under the $86 billion deficit in December 2011.

A Treasury official said adjustments made to recurring benefit payments in December to compensate for the Jan. 1 holiday were worth about $16 billion, for an adjusted deficit of $16 billion.

December outlays totaled $269.8 billion, a 17% decrease from $325.9 billion in December 2011. Receipts were $269.5 billion, a 12% bump from $240 billion a year ago.

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