Washington Congratulates Itself

Via the Wall Street Journal

Capped off by a $2 billion surplus in December, the government ended the calendar year with a deficit of $488 billion, $72 billion less than the 2013 tally, according to data from the U.S. Treasury. The federal government uses a fiscal year that begins in October; on that basis, the 2014 fiscal year ended in September saw a deficit of $483 billion, also the lowest of Mr. Obama’s presidency.

 

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