February 4, 2014
WHAT SHALL WE DO WITH THE SURPLUS?:
Deficit continues to drop sharply - CBO (Jeanne Sahadi, 2/04/14, CNNMoney)
Posted by Orrin Judd at February 4, 2014 1:44 PMThanks to a recovering economy, spending restraint and higher tax receipts, the Congressional Budget Office now projects the deficit for 2014 will be $514 billion, or 3% of the size of the U.S. economy.As a share of gross domestic product, that represents a nearly 27% drop from last year, and marks the smallest deficit since 2007.