WASHINGTON: The US deficit is shrinking considerably more quickly than previously thought, the congressional budget office said in a report that could sap congress’ sense of urgency to find further budget savings.
In one fell swoop, the non-partisan budget referee slashed its deficit forecast for the current fiscal year by US$203bil from estimates made in February to US$642bil making it the smallest budget shortfall since 2008.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
