This Year's Deficit Will Probably Be The Smallest Since 2008

http://www.businessinsider.com/this-years-deficit-may-be-the-smallest-since-2008-2014-7


Copies of President Barack Obama’s proposed fiscal 2015 budget set out for distribution on Capitol Hill in Washington.


The federal government ran on a $71 billion surplus in June, putting the country on track for the lowest deficit since 2008, according to The Associated Press.

For the first nine months of fiscal year 2014 the deficit was $366 billion, 28 percent lower than it was at this point last year.

The Congressional Budget Office estimates that the deficit will be $492 billion, the lowest deficit since 2008's $459 billion ($498 billion counting inflation).

Meanwhile, the White House gave a more conservative estimate of a $583 billion deficit, according to the AP. That still puts the deficit down nearly $100 billion from $680 billion last year.



Read more: http://www.thewire.com/politics/2014/07/this-years-deficit-will-probably-be-the-smallest-since-2008/374322/#ixzz37LP1KhZ8