Nation & World

September 17, 2013 12:22 PM

Report: After a decline, budget deficit will start growing again

The federal budget deficit should shrink to 2 percent of the total economy by 2015, the nonpartisan Congressional Budget Office said Tuesday in a new forecast. The debt held by the public would fall as a share of the economy to a healthier – but still high – 68 percent not long afterward. The improving numbers are due to cuts in government spending and an improving economy, and they reflect short-term trends, the CBO said. Over a longer window, through 2038, the nation’s finances remain on perilous ground, the CBO said.

Related content

Comments

Videos

More Videos

Laremy Tunsil's gas mask bong video 00:36

Laremy Tunsil's gas mask bong video

Don't let a text wreck your life 01:01

Don't let a text wreck your life

Alex Arrieta's battle with leukemia 01:21

Alex Arrieta's battle with leukemia

Tourist tests her luck by petting a bison in Yellowstone Park 01:07

Tourist tests her luck by petting a bison in Yellowstone Park

Gulfport Fire Department accused of not hiring man with dreadlocks 02:26

Gulfport Fire Department accused of not hiring man with dreadlocks

Closer look at Lake Worth bridge where a woman was killed 00:27

Closer look at Lake Worth bridge where a woman was killed

Texting and driving: Amanda Clark's story 05:59

Texting and driving: Amanda Clark's story

'Fixer Upper' hosts Chip and Joanna Gaines in Kansas City 03:46

'Fixer Upper' hosts Chip and Joanna Gaines in Kansas City

Former Pennsylvania senator Harris Wofford receives the Presidential Citizens Medal 01:29

Former Pennsylvania senator Harris Wofford receives the Presidential Citizens Medal

Pope Francis goes to Washington 02:11

Pope Francis goes to Washington

Share Video

Nation & World Videos