White House Projects Budget Deficit Will Shrink To $759 Billion
Posted in the Minneapolis Forum
#1 Jul 9, 2013
WASHINGTON (AP)ó The White House said Monday that the federal budget deficit for the current fiscal year will shrink to $759 billion. Thatís more than $200 billion less than the administration predicted just three months ago.
The new figures reflect additional revenues generated by the improving economy and take into account automatic, across-the-board spending cuts that the White House had hoped to avert.
The White House projected that economic growth would be slightly slower in the coming years than it forecast in April. The report said the automatic spending cuts that kicked in during March will slow down economic growth this year from the 2.6 percent increase it forecast for the fourth quarter of this year to a 2.4 percent increase.
But the White House sees a slightly rosier jobs picture. It projects that unemployment will average 7 percent next year and reach 6.8 percent in the final quarter of 2014. Thatís an improvement over the 7.2 percent unemployment it forecast in April as an average for 2014.
Read more: http://talkingpointsmemo.com/news/white-house...
#2 Jul 12, 2013
Another Obama Success says it all.
#3 Jul 15, 2013
But he's BLACK!
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