Congressional Budget Office Sees No Significant Improvement In Budget Outlook

The Congressional Budget Office today released updated economic and budget projections. CBO's projections confirm that the deficit for the current year will be smaller than had been anticipated earlier this year (CBO now projects it will be $158 billion, or 1.2 percent of Gross Domestic Product...

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Bibliographic Details
Published in:Policy File 2007
Main Author: Horney, James
Format: Report
Language:English
Subjects:
Budgets/Expenditures
Center on Budget and Policy Priorities
Government
Online Access:Request full text
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Summary:The Congressional Budget Office today released updated economic and budget projections. CBO's projections confirm that the deficit for the current year will be smaller than had been anticipated earlier this year (CBO now projects it will be $158 billion, or 1.2 percent of Gross Domestic Product ) but offer no support for the claim that the President's tax cuts are boosting the economy and significantly improving the budget outlook for coming years.