CBO: 2013 budget deficit estimated at $845B
Economic growth expected to remain slow this year
Published On: Feb 05 2013 10:12:29 AM PST
Updated On: Feb 05 2013 12:48:08 PM PST
The Congressional Budget Office projects the 2013 budget deficit will drop below $1 trillion for the first time since 2008 to $845 billion.
The CBO anticipates economic growth will remain slow this year; the unemployment rate -- currently at 7.9 percent -- is also expected to remain above 7.5 percent through next year.
However, the CBO projects economic growth to speed up after this year.