US budget deficit rises to $98b in Oct

Updated: 2011-11-11 06:10


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WASHINGTON - The US federal government budget deficit increased to $98.5 billion in October from $64.57 billion in September, but lower than $140.4 billion in the same month last year, the Treasury Department said on Thursday.

The deficit remains extraordinarily high by historical standards and will keep pressure on lawmakers as they debate spending cuts and tax increases.