US deficit now lowest since 2007

Posted online October 16, 2015 | 11:30 am

The federal deficit for the fiscal year that just ended was the smallest in eight years.

The 2015 deficit was $439 billion, or 2.5 percent of the size of the nation's economy.

That's the lowest level since 2007, when the annual deficit hit $161 billion, or 1.1 percent of GDP. It's also 9 percent lower than in 2014.

Read more from CNNMoney.

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