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Truthmatters
http://www.washingtonpost.com/blogs...howdown-as-deficit-continues-to-fall/?hpid=z3
GOP threatens debt limit showdown as deficit continues to fall
By Greg Sargent, Published: July 8, 2013 at 5:06 pmE-mail the writer
The Associated Press reports on the latest piece of evidence showing that the deficit is falling, even as ongoing spending cuts from sequestration may be putting a damper on the economic recovery:
The White House said Monday that the federal budget deficit for the current fiscal year will shrink to $759 billion. That’s 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.
The report is here. Now obviously this is coming from the White House but it mirrors the findings of the nonpartisan Congressional Budget Office, which also recently determined the deficit is shrinking.
GOP threatens debt limit showdown as deficit continues to fall
By Greg Sargent, Published: July 8, 2013 at 5:06 pmE-mail the writer
The Associated Press reports on the latest piece of evidence showing that the deficit is falling, even as ongoing spending cuts from sequestration may be putting a damper on the economic recovery:
The White House said Monday that the federal budget deficit for the current fiscal year will shrink to $759 billion. That’s 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.
The report is here. Now obviously this is coming from the White House but it mirrors the findings of the nonpartisan Congressional Budget Office, which also recently determined the deficit is shrinking.
