According to the CBO's monthly budget review for November 2014, the federal budget deficit was $181 billion for the first two months of the new fiscal year, which is $45 billion less than the same period in FY 2014. However, don't judge the bookkeeping by the numbers.

The Congressional Budget Office (CBO) on Friday released the monthly budget review for November 2014, the second month of the federal government's FY 2015. According to the report, the federal budget deficit was $181 billion for the first two months of the new fiscal year, which is $45 billion less than the deficit for the same period in FY 2014. However, don't judge the bookkeeping by the numbers as the deficit actually rose in November over the same month a year ago. The...