Budget deficit falls at sharpest pace since WWII.

The budget deficit dropped to the lowest level since 2008 last year, falling to $680B from $1.1T in 2012. The rate of the drop was the sharpest since the end of World War II. The fall was due to an increase in federal tax revenues amid economic growth and tax hikes, and to a fall in spending. A slowdown in health costs also helped.