Deficit smallest since 2007
{{#rendered}} {{/rendered}}The federal deficit fell to $439 billion in fiscal 2015, the Treasury reported Thursday, the smallest government shortfall since 2007.
The deficit was $44 billion less than the year before, the Treasury said in its final budget results.
As a share of the economy, the annual government shortfall was the smallest since 2007, before the financial crisis sent deficits soaring over $1 trillion, and below the 40-year average.
{{#rendered}} {{/rendered}}Treasury Secretary Jack Lew said that President Obama has put the federal government's finances on "a sustainable footing while laying the foundation for durable economic growth and broadly shared prosperity."