The US now has a eurozone-approved budget

Highlights of the US budget statement for the end of the fiscal year:

• US Sept budget surplus $105.8B vs $90.0B exp
• The surplus last Sept was $75B
• 2014 fiscal deficit was $483B vs $680B in 2013

The 2014 fiscal deficit fell to 2.8% of GDP from 4.1% in 2013. It’s the lowest since 2007…and low enough that the US can now pass a Eurozone approved budget.