News You Won’t See on Fox: U.S. Deficit Is Now at a Five-Year Low

According to the Associated Press:

For the first time in five years, the U.S. government has run a budget deficit below $1 trillion.

The government says the deficit for the 2013 budget year totaled $680.3 billion, down from $1.09 trillion in 2012. That’s the smallest imbalance since 2008, when the government ran a $458.6 billion deficit.

Steve Benen at MaddowBlog:

[This downward] trend is a well-kept secret –- national polling last year found that only 6 percent of Americans realize that the deficit is shrinking in the Obama era. Whether the public realizes it or not, the facts are not in dispute – the deficit is now down $400 billion from last year, and down nearly $800 billion from when President Obama took office.

This is the fastest deficit reduction seen in the United States since the end of World War II.

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