(WASHINGTON) -- Now is not the time to break out the champagne but at least some economic indicators seem to be headed in the right direction.
According to Treasury Department figures released Monday, the federal deficit during the first two months of the 2012 fiscal year that began on Oct. 1 shows the government shortfall running at about $236 billion.
Again, don't pop the cork just yet because that's merely $55 billion less than in October and November 2010.
Still, if this pattern continues over the next 10 months, the Congressional Budget Office predicts that the 2012 federal deficit will come in at around $973 billion by the time Sept. 30, 2012 rolls around. That would mean a federal deficit of under $1 trillion for the first time in four years. This year it was $1.4 trillion.
However, if Congress gets around to extending the Social Security payroll tax cuts and unemployment benefits, chances are the deficit will wind up over $1 trillion anyway.
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