Contact Us
Make My Homepage

Federal Budget Deficit Estimated at $854-Billion

A new government report is predicting the budget deficit will drop below $1 trillion for the first time in President Barack Obama’s tenure in office.

Money
Flickr User 401k

The Congressional Budget Office analysis says the government will run a $845 billion deficit this year, a modest improvement compared to last year’s $1.1 trillion shortfall, but still enough red ink to require the government to borrow 24 cents of every dollar it spends.

The agency also projects that the economy will grow just 1.4 percent this year if $85 billion in across-the-board spending cuts take effect as scheduled March 1. Unemployment would average 8 percent.

The report predicts the deficit would dip to $430 billion by 2015. That would be a relatively low 2.4 percent when measured against the size of the economy.

(Copyright 2013 by The Associated Press. All Rights Reserved.)

Best of the Web


Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your points and personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account with your Facebook account, just click on the account activation button below. You will maintain your existing profile and VIP program points. After you do this, you will be able to always log in to http://nj1015.com using your Facebook account.

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

Register on New Jersey 101.5 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a Member? Sign Up Here

Register on New Jersey 101.5 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!