WASHINGTON – The federal budget deficit could be $1.19 trillion for the current fiscal year, according to a Congressional Budget Office report issued today.
That figure represents about 8% of the economy and is the highest ever.
The deficit could get bigger depending on the outcome of the congressional debate over President-elect Barack Obama's economic stimulus package, which has been estimated to cost $800 billion over two years.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
