The Congressional Budget Office (CBO) has just lowered its estimate of the Fiscal Year 2006 budget deficit by about $111 billion. So for now, FY 2006, which ends on September 31st, will probably result in a budget deficit of $260 billion.
The CBO estimate puts the deficit about $30 billion lower than the Office of Management and Budget (OMB), which revised its estimate in July. See here, here and here for more information on OMB's gimmicky deficit numbers.