October Budget Deficit Up Over Last Year's

While blaming accounting procedures, the federal government’s budget deficit for October came  in higher than it did for October of last year.

According to reports, the Treasury Department reported “a $121.7 billion deficit in the first month of the fiscal year, up $31.1 billion from a year ago.”

Treasury also said that tax receipts were probably about $4 billion short because of another calendar quirk — October started on a weekend.