National

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

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

Don't let a text wreck your life

Dance helps D'Iberville boy overcome ADHD 02:17

Dance helps D'Iberville boy overcome ADHD

Terror in Brussels 02:36

Terror in Brussels

Watch baby polar bear Nora grow up fast 02:12

Watch baby polar bear Nora grow up fast

NASA animates the powerful winter storm headed for the Mid-Atlantic 00:22

NASA animates the powerful winter storm headed for the Mid-Atlantic

Vincent the cat gets very rare prosthetic legs 02:32

Vincent the cat gets very rare prosthetic legs

Video: How to wash your hands 01:03

Video: How to wash your hands

Black Friday by the numbers 01:57

Black Friday by the numbers

Video: Jeff Bezos's space company successfully lands fully reusable rocket 03:14

Video: Jeff Bezos's space company successfully lands fully reusable rocket

'Lucky' Turkey to Receive Presidential Pardon 01:08

'Lucky' Turkey to Receive Presidential Pardon

Syrian refugees in the U.S., by the numbers 02:06

Syrian refugees in the U.S., by the numbers

The Buzz with Buzz: the Koch brothers, money and politics 02:59

The Buzz with Buzz: the Koch brothers, money and politics

Share Video

Nation & World Videos