Wednesday, May 15, 2013

WSJ: Deficit Falling Faster Than Expected

The Wall Street Journal has an article today stating that, according to the Congressional Budget Office, the federal budget deficit is shrinking faster than expected.  Read "CBO sees deficit narrowing quickly" by Damian Paletta.  Here's the first two paragraphs:

A rapidly shrinking federal budget deficit is upending bipartisan talks to reach a federal budget deal, illustrating the conundrum Washington faces with an improving near-term fiscal outlook but continued longer-term pressures tied to aging baby boomers. 
The Congressional Budget Office said Tuesday the federal deficit is expected to shrink to $642 billion in the fiscal year ending Sept. 30, narrowing from the agency's estimate of $845 billion three months ago and sharply lower than last year's $1.087 trillion shortfall.

The article has a cool graphic.

(h/t Mike Allen's Politico Playbook)

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