The U.S. federal government recorded a budget deficit of about 135.2 billion U.S. dollars in November , the second month of the fiscal year 2014, the U.S. Treasury Department said on Wednesday .
The federal government earned revenues of 182.5 billion U.S. dollars last month , about 12.8 percent higher than last year's level . While expenditures reached 317.7 billion U.S. dollars , compared with 333.8 billion a year earlier .
Higher revenues and lower expenses resulting budget gap of 21.4 percentage points lower than November 2012 .
The combined budget deficit in the first two months of the current fiscal year reached 226.8 billion U.S. dollars , 22 percent lower than the imbalance for the same period in fiscal 2013.
Budget negotiators in the U.S. Congress on Tuesday ( 10/12 ) reached an agreement two-year budget plan , eliminating the threat of closure ( shutdown ) government activities on January 15, when existing funding expires .
The plan sets the level of expenditure in excess of one trillion dollars for the two fiscal years 2014 and 2015 while replacing part of the automatic spending cuts with some cost savings . It must be approved by both the House and the Senate .
Due to increased revenue and reduced spending , the federal government budget deficit narrowed to 680 billion U.S. dollars for the fiscal year ending September 2013 , the smallest in the last five years , Xinhua reported .
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