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April 10, 2014 AT 9:50 AM
The U.S. government's budget deficit shrank to just $37 billion in March from $107 billion in the same month last year, the latest sign of improvement in the nation's finances. In its monthly budget report, the Treasury Department says the deficit fell partly because revenue jumped 16 percent to $216 billion. Changes in the timing of about $40 billion in benefit payments and tax receipts from March last year to February this year were also a big reason for the smaller deficit.