US budget deficit grows by $260M in December
WASHINGTON – The U.S. annual budget deficit is on track to reach $1 trillion for a fifth straight year, though government revenue jumped last month as people paid some taxes early to avoid higher rates in 2013.
The Treasury Department said Friday that the federal deficit grew just $260 million in December. But for the first three months of the budget year, the deficit widened to $292 billion.
In December, tax revenue rose 12 percent to $270 billion. Spending fell 17 percent to nearly the same amount.
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