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U.S. federal budget deficit drops to $250 billion, congressional office says

U.S. federal budget deficit drops to $250 billion, congressional office says

The federal budget estimate for the fiscal year just completed dropped to $250 billion (euro197.41 billion), congressional estimators said Friday, as the U.S. economy continues to fuel impressive tax revenues.
The Congressional Budget Office's latest estimate is $10 billion (euro7.9 billion) below CBO predictions issued in August and well below a July White House prediction of $296 billion (euro233.73 billion).
The improving deficit picture _ President George W. Bush predicted a $423 billion (euro334.02 billion) deficit in his February budget _ has been driven by better-than-expected tax receipts, especially from corporate profits, CBO said.


Updated : 2021-06-23 11:45 GMT+08:00