The nonpartisan Congressional Budget Office (CBO) has raised its estimate for this year’s federal deficit to $506 billion, while slashing its growth forecast for the US economy.
The new estimate is $14 billion more than the budget office’s last report in April which had projected the deficit for fiscal 2014 to hit $492 billion on September 30. The US government’s fiscal year runs from October through September .... http://www.presstv.com
