Budget Deficit Lowest Since 2007

The United States’s budget deficit has shrunk to its lowest level since 2007, before the Great Recession began, as unemployment rates fell and economic growth sped up. The Treasury Department announced Tuesday that in the 12 months before Sept. 30, the deficit fell to $483 billion, compared with $680 billion the year earlier. Revenue went up 8.9 percent while spending only grew 1.4 percent.