http://www.quicken.com/investments/news_center/story/?story=NewsStory/dowJones/20040209/ON200402090947000538.var&column=P0DECWASHINGTON -(Dow Jones)- The U.S. government ran a budget deficit of $130 billion in the first four months of fiscal-year 2004, the Congressional Budget Office estimated.
This was $32 billion more than the shortfall recorded over the same period last fiscal year.
"Although receipts were about $8 billion higher than in 2003, outlays grew more, rising by $41 billion," the budget office said in a new monthly budget review.
In January alone, the CBO said, outlays were $7 billion greater than for the same period last year, with defense spending accounting for $4 billion to $5 billion of the spending increase.
The CBO is projecting a fiscal 2004 deficit of $477 billion if no other tax or spending legislation is enacted this year. The Bush administration sees a deficit of $527 billion for fiscal-year 2004 using comparable assumptions and a deficit of $521 billion when counting proposed legislation that would increase revenues.
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