The US economy had been stalled for so long that it was starting to seem like a permanent condition. But no more. In 2014, the economy began expanding, the job market tightened, and unemployment continued to fall.

All thats missing at this point is for wages to go up and paychecks to get fatter. That hasnt happened yet for the United States as a whole, but it has happened here in Massachusetts which is not only a good thing for Bay State residents but perhaps an early sign of what workers elsewhere will find in 2015.

An improving job market

Continue reading below

When it comes to the economy, Americas millionaires are an increasingly confident bunch.

More than 50 percent of wealthy investors believe the economy will be stronger one year from now, according to the just released CNBC Millionaire Survey. Thats up 9 percent from six months ago, when 42 percent of millionaires surveyed expressed a similar level of confidence.

Tom Wynn, director of affluent research at Spectrem, provided several factors for the increased confidence: the steady improvement in job growth, the steady increase in the major stock market indices since the spring, and a decrease in political ambiguity with the election season over, which has an effect on at least some peoples outlook. Wynn said this confidence extends to household income, household assets and company health. In all of these areas, there has been an increase in confidence, he said.

However, the rise in overall economic confidence among the wealthy has not translated into greater bullishness about the stock market.

Investors anticipate moderate growth of 5 percent to 10 percent in the stock market, similar to the findings in the March millionaire survey. It is still the largest percentage of investors who anticipate their assets will grow 5 percent to 10 percent in 2015.

Read MoreDo you think like a millionaire? Take this quiz

The rest of affluent investors diverge in near-equal percentages: those who think the stock market will be flat in 2015 (16 percent) represent roughly the same portion of this demographic as those who are very bullish (17 percent), expecting the market to be up 10 percent to 15 percent in 2015.

The US federal budget deficit narrowed in November, helped by a strengthening economy that boosted tax receipts during the month, Treasury Department data showed on Wednesday.

Washington spent $56.8 billion more than it took in last month, which was less than half the deficit in November of 2013. It was also narrower than analysts expectations for a $72.5 billion deficit.

After suffering from years of stagnant growth, Americas economy has appeared to rev its engines this year even as the global picture has grown more troubled. Hiring by US employers has picked up and the government is no longer engaged in the harsh austerity that reduced growth in 2013 through tax hikes and spending cuts.

In a briefing with reporters, a Treasury official pointed out that the timing of some government benefit payments made the drop in the deficit look larger. For example, checks paying for things like elderly healthcare went out in October rather than November, making expenditures last month look smaller than normal.

Still, even after accounting for the calendar shifts, the official said the deficit narrowed during the month.

The report pointed to a stronger economy as a reason for the decline. Receipts for individual income and payroll taxes rose 3 percent in November from a year earlier.

(Reporting by Jason Lange; Editing by Paul Simao)

Lloyd Blankfein thinks the economy is on the right track even though its about to be overtaken by China.

There are a lot of positives to the economy, the CEO and chairman of Goldman Sachs said at the DealBook Conference in New York Thursday.

He noted falling energy prices, an improving housing market, and lower leverage in the system.

Read MoreMaybe not a merry Christmas for Goldman Sachs