The federal government ran a budget deficit of $131 billion in May, the Congressional Budget Office estimated on Friday. That is $8 billion lower than the deficit in May 2013. For the fiscal year to date, CBO estimates a deficit of $439 billion, $188 billion less than in the same period a year ago. CBO said receipts in May totaled $200 billion, or $3 billion more than the same month last year. Spending was $331 billion, down $5 billion from May 2013.
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