U.S. Treasury Reports $2 Billion Surplus in December

The U.S. Treasury posted a $2 billion surplus in December, making the deficit for calendar year 2014 the smallest since 2007.

Over the previous 12 months, the government reported a deficit of $488 billion, down from $560 billion for calendar year 2013.

The government’s fiscal picture has improved dramatically since President Barack Obama ’s first term as president. From 2009 to 2012, the government recorded deficits of over $1 trillion. Reducing the size of the deficit became a political priority in Washington, but Republicans in Congress and the White House...