U.S. posts $79.9 billion budget deficit in Dec.

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U.S. posts $79.9 billion budget deficit in Dec. (by Robert Schroeder)

WASHINGTON (MarketWatch) -- The U.S. government ran a budget deficit of nearly $80 billion in December, the Treasury Department said Wednesday, marking the 27th straight month of red ink. Federal outlays were $316.8 billion in December, while receipts were $236.8 billion, up 8% from a year ago on higher corporate and payroll tax receipts. The deficit stands at $370.8 billion for the first quarter of the fiscal year.

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