WASHINGTON — The federal government ran a $119.9 billion budget deficit in October after posting a $75.2 billion surplus the previous month, the Treasury Department reported Tuesday.

The October deficit was greater than the $114 billion shortfall projected by economists polled by Thomson Reuters, and surpassed the $98.5 billion deficit in October 2011. However, adjustments made to factor in two extra business days in October 2012 vs. 2011 and a shift of recurring benefit payments into September last year means the year-over-year total is nearly flat, according to the Treasury.

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