I doubt we’ll see much about this in the main stream media….
The US deficit shrank nine percent last fiscal year but still topped one trillion dollars, the government said Friday in a report seized on by Democrats’ rivals weeks ahead of mid-term elections.
For the 2010 fiscal year that ended on September 30, the government had a budget shortfall of 1.294 trillion dollars, down 122 billion dollars from the previous year’s record-setting high.
Revenue rose and spending fell amid recovery from recession and as President Barack Obama’s Democratic administration wound down some of the emergency measures taken to restore growth.
The final figures “underscored the administration’s commitment” to cutting the massive government deficit, Treasury Secretary TimothyGeithner said in a statement.
“By carefully managing the emergency initiatives to stop the financial panic and by accelerating our exit from those investments, we have significantly lowered the cost to taxpayers, bringing the costs of the financial rescue down by more than 240 billion dollars this year.”
via Democrats shrank US spending, deficit in last fiscal year, figures show | Raw Story.
Lost in the 21st Century 
This is sort of a True-but-False story.
It’s technically true in that Congress spent less deficit funds this fiscal year than last year. Yet, it’s false in that it doesn’t take into account the following:
1 – They spent a unheard of amount at the end of last fiscal year and it would be hard to top it.
2 – They scheduled a lot of expenditures now coded into law to start in the near future instead of right now (before elections?)
3 – The GOP wouldn’t cooperate with their spending and, hence, a lot of appropriations bills haven’t been passed yet since the Dems left them until after Nov 2….
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