The U.S. budget deficit in fiscal 2022 fell by half from a year earlier to $1.38 trillion, due to less spending to address the coronavirus pandemic and record revenues as the economy picked up, Treasury Department data showed Friday. The $1.40 trillion dive in the deficit for the fiscal year through Sept. 30 is the largest one-year drop in U.S. history, the department said. With the U.S. midterm elections looming on Nov. 8, Democratic President Joe Biden used the release of the data to pitch his administration's efforts to help improve the country's fiscal health, while attacking Republicans f...
