Highlights The non-partisan Congressional Budget Office continues to project that the budget deficit in FY 2013 will total $642 billion, or around 4.0% of GDP. A better economy, a stronger labor market, spending cuts from sequestration, and tax increases are all contributing to improving the short-term deficit. Despite overall improvement, federal spending on mandatory programs still runs faster than GDP.
Posted on: Tue, 27 Aug 2013 22:03:26 +0000
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