Powered by tax increases and deep budget
cuts that held spending in check, the federal deficit dropped to $680 billion in fiscal year 2013, according to a Treasury Department report Wednesday that marks the first subtrillion-dollar deficit since President Obama took office.
The deficit is less than half the record $1.413 trillion figure Mr. Obama and President George W. Bush shared in fiscal year 2009, and it comes out to a little more than 4 percent of the economy as measured by gross domestic product.
http://www.washingtontimes.com/news/2013/oct/30/federal-deficit-below-1-trillion-first-time-obama/?page=all
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