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CBO: Obama Budget Would Cut US Deficit By $1.1 Trillion Over Decade

U.S. President Barack Obama speaks about the sequester after a meeting with congressional leaders at the White House in Washington on March 1, 2013. (REUTERS/Kevin Lamarque)

U.S. President Barack Obama speaks about the sequester after a meeting with congressional leaders at the White House in Washington on March 1, 2013. (REUTERS/Kevin Lamarque)

WASHINGTON — Near-term U.S. deficits under President Barack Obama's latest budget plan would be higher than the most recent estimates by the Congressional Budget Office, but $1.1 trillion lower over the coming decade, CBO said on Friday.

The non-partisan congressional budget referee agency said enactment of Obama's budget proposal would lead to a $669 billion deficit for fiscal 2013, $29 billion higher than CBO estimates based on current tax and spending laws. For the fiscal 2014 year that starts on Oct. 1, the deficit under Obama's budget would be $675 billion, $115 billion higher than the CBO estimate released on Tuesday.

Comments

chinaberry25 1 year, 7 months ago

What happened to 1/2 the first four years. Nothing but lies and more lies.

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