WASHINGTON – The government posted a $140.4 billion deficit in October, the first month of fiscal 2011, the largest deficit in four months, the Treasury Department reported Wednesday.
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The September budget deficit was revised slightly higher to $34.6 billion from $34.5 billion reported last month.
For the 2010 fiscal year, the federal government had a $1.29 trillion deficit.
October outlays totaled $286.4 billion and receipts were $146.0 billion. Receipts were boosted by higher returns on Federal Reserve Bank earnings.
The government has had two straight years of monthly budget deficits beginning in October 2008.
