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Congressional Budget Office to Boost Deficits

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Congressional Budget Office to Boost Deficits

Congressional Budget Office to Boost Deficits

Congressional Budget Office to Boost Deficits

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  • <iframe src="https://www.npr.org/player/embed/1186021/1186022" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">

NPR's Jim Zarroli reports the Congressional Budget Office is expected to boost its estimate of the federal government's budget deficit when it reports to Congress today. The CBO had previously set the deficit for the current fiscal year at $199 billion, but may increase that estimate by as much as $30 billion. One analyst said, "We're now looking at deficits that will be large for the next five-to-10 years, and gargantuan thereafter."