Latest CBO report shows shrinking budget deficit

[RunInRed 18,691]

If the current laws that govern federal taxes and spending do not change, the budget deficit will shrink this year to $642 billion, CBO estimates, the smallest shortfall since 2008. Relative to the size of the economy, the deficit this year—at 4.0 percent of gross domestic product (GDP)—will be less than half as large as the shortfall in 2009, which was 10.1 percent of GDP. [...]

CBO’s estimate of the deficit for this year is about $200 billion below the estimate that it produced in February 2013, mostly as a result of higher-than-expected revenues and an increase in payments to the Treasury by Fannie Mae and Freddie Mac. For the 2014–2023 period, CBO now projects a cumulative deficit that is $618 billion less than it projected in February. That reduction results mostly from lower projections of spending for Social Security, Medicare, Medicaid, and interest on the public debt.

http://cbo.gov/publication/44172

[autigeremt 7,260]

Someone might want to check and see if the CBO has been keeping secrets while we are at it.

Joke!!!

[augolf1716 22,032]

_{Now that's fantastic news..just a ray of economic sunshine..The future is bright}

[RunInRed 18,691]

_{Now that's fantastic news..just a ray of economic sunshine..The future is bright}

Beats the alternative.