Cannot initiate the connection to 80:80 (0.0.0.80)

When running apt-get update command, if you receive the below mentioned error

W: Failed to fetch http://us.archive.ubuntu.com/ubuntu/dists/trusty-backports/restricted/i18n/Translation-en_US  Cannot initiate the connection to 80:80 (0.0.0.80). - connect (22: Invalid argument)

Edit the following file
vi /etc/apt/apt.conf

Hash out the following entry
#Acquire::http::Proxy "ProxyIP:ProxyPort";


Now try #apt-get update, this should update the repository informaiton