WASHINGTON — The US government’s deficit through the first four months of this budget year is down 36.6 percent from a year ago, signaling further improvement in the nation’s finances.
In its monthly budget report, the Treasury Department said Wednesday the deficit for January was $10.4 billion.
For the period from October through January, it totals $184 billion. That is down $106.4 billion from the same period a year ago.
The Congressional Budget Office is projecting that the deficit for the current budget year will decline to $514 billion. That would be the smallest imbalance in six years. The deficit last year was $680.2 billion.
Rising tax revenues from an improving economy and government spending constraints are helping to trim the deficit.