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U.S. runs $50 billion budget deficit in January

U.S. runs $50 billion budget deficit in January (by Robert Schroeder)

WASHINGTON (MarketWatch) - The U.S. government ran a budget deficit of $50 billion in January, the Treasury Department reported Thursday. The deficit was about $7 billion more than a year ago and was the 28th straight monthly shortfall. Higher outlays for Social Security contributed to the budget gap in January. Year to date, the deficit is about $419 billion, nearly $12 billion less than a year ago.