The perks of accounting quirks

The federal government is on pace to run a deficit below $1 trillion for the first time in four years, modest progress in the face of intense debate in Washington over spending.

The Treasury Department said Monday that the deficit was $137 billion in October. That brings the total for the first two months of the budget year to $236 billion – $55 billion less than the same two months last year.

Still, part of the reason for the lower deficit is an accounting quirk.