U.S. Deficit Decline to 2.8% of GDP Is Unprecedented Turn - Bloomberg
Robust economic growth has helped push the U.S.budget deficit down to the lowest level since 2008, marking the sharpest turnaround in the government’s fiscal position in at least 46 years.The shortfall of $483.4 billion in the 12 months ended Sept. 30 was 2.8 percent of the nation’s gross domestic product of $17.2 trillion over the same period, according to data compiled by Bloomberg using Commerce Department figures. The figure peaked at 10.1 percent of GDP in December 2009.
OMG, we need to stop Obama from spending us into ruin!!
Oh, wait.... the deficit is SHRINKING? Whodathunkit! I guess he's NOT the spender in chief as he's been labeled by the consistent and reliable deficit increasing Republicans.