Gloom and doom. Let's hear it.
WASHINGTON - The federal budget deficit estimate for the fiscal year just completed has dropped to $250 billion, congressional estimators said Friday, as the economy continued to fuel impressive tax revenues.[/B]
The Congressional Budget Office's latest estimate is $10 billion below CBO predictions issued in August and well below a July White House prediction of $296 billion.
The improving deficit picture — Bush predicted a $423 billion deficit in his February budget — [B]has been driven by better-than-expected tax receipts, especially from corporate profits, CBO said. |
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