Biden hails 'largest deficit drop in U.S. history' - From His Second Largest Deficit on Record

Federal Budget Deficit Fell to $1.4 Trillion as Pandemic Spending Eased
The gap between what the government borrows and what it spends narrowed amid less spending and higher tax receipts.
https://archive.ph/OJ7cs
Fiscal Year 2022 in Review
The federal government ran a deficit of $1.4 trillion in FY2022, approximately half the $2.8 trillion deficit incurred in FY2021. Contributing to this change are both increased revenues ($850 billion or 21% higher) and reduced outlays ($548 billion or 8% lower) than in FY2021. The expiration of pandemic-related relief spending, such expanded unemployment insurance, certain tax credits, and other public benefit programs, accounts for most of that change....
https://archive.ph/QrM1S