News
Bloomberg | U.S. Deficit Narrows to $642 Billion in New CBO Estimate
The U.S. budget deficit will shrink by the end of fiscal 2013 to $642 billion, the smallest shortfall in five years, according to the nonpartisan Congressional Budget Office.
Roll Call | Conservatives Seek More Spending Cuts in Debt Limit Strategy
Looking to up the ante on debt limit negotiations, House conservatives will push to enact spending changes included in the House-passed budget in exchange for an increase in the nation’s debt ceiling.
Blogs
Economist | Fiscal consolidation, American style
The 4% of GDP deficit forecast for 2013 is even more remarkable when one notes that the figure for 2012 was 7%. That's a breathtaking pace of fiscal consolidation. CBO reckons that the deficit will continue to fall and will drop to 2.1% of GDP in 2015. Public debt as a share of the economy is also forecast to begin falling from next year.
WSJ | Households Cut Overall Debt, but Student Loans Jump
U.S. households cut debt loads broadly during the first three months of 2013, although student loan borrowing continued to rise, a report from the Federal Reserve Bank of New York says.
Heritage Foundation | Quiet Before the Storm: CBO Reports $642 Billion Deficit in 2013
At $642 billion, the Congressional Budget Office (CBO) reports, the 2013 deficit will be lower by $200 billion than previously forecast.
