On the recordFebruary 7, 2007
The 12-month budget deficit, the last 12 months, is $188 billion. Remember, some time ago, we were talking about nearly half a trillion dollars. That $188 billion is down 38 percent as a rolling 12-month budget deficit from what it was a year ago. For 22 straight months now, the budget deficit has declined by about 18 percent, year on year. There is a lot of progress happening on this budget deficit because of the growth in the economy, because of those tax cuts, and because we, the prior couple of budgets, were beginning to start to control spending.
Source
govinfo.gov
