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The deficit has fallen by three quarters, she says.
And the overall deficit has fallen by 25%.
Excluding oil, the trade deficit has fallen by almost one-quarter since 2006.
The federal deficit has fallen to 4.1%, from 9.8% in 2009.
The deficit has fallen, but it was still 6.7 percent of gross domestic product last year.
In recent years, the deficit has fallen as tax revenues jumped with the improving economy.
Similar(24)
By 1997 the deficit had fallen sharply.Fiscal policy flipped back to giveaway in 1997.
With the deficit having fallen sharply in the past few years, there is no need for more spending cuts.
Its banks are in even worse shape than Germany's, Rome has no control over monetary policy and its attempts to boost growth by running a bigger budget deficit have fallen foul of Europe's hardline fiscal rules.
In 2009, the deficit had fallen to an eight-year low after a drop in imports.
Last month, Chancellor George Osborne claimed the deficit had fallen by a third since the coalition came to power in 2010.
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