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US Dec. budget deficit shrinks

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U.S. budget deficit shrank in December, but the government still spent far more than it collected, adding to the country's already high level of debt.

The Treasury Department's regular monthly statement on spending and revenue showed an 80 billion U.S. dollar shortfall last month. But the December deficit met expectations, and was smaller than the 91.41 billion U.S. dollar shortfall in the same month a year prior.

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