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Monthly Budget Reviewreport
The federal budget deficit was $295 billion for the first four months of fiscal year 2013, $54 billion less than the shortfall recorded for the same period last year, CBO estimates. Without shifts in the timing of certain payments in both years, however, the deficit for the four-month period would have been about $84 billion lower this year than the amount in fiscal year 2012.      Economic Growth Is Likely to Be Slow in 2013 and Pick Up in Later Yearsblog post
On Tuesday CBO published a new economic forecast in The Budget and Economic Outlook: Fiscal Years 2013-2023. The forecast—reflecting current law—takes into account the recent passage of the American Taxpayer Relief Act of 2012 (Public Law 112-240), which removed a significant amount of the fiscal tightening that had been scheduled to take effect in January 2013. |
