Obama’s Sweet Spot May Sour as Deficit Seen Wider in 2016
The good news is that the U.S. budget deficit is continuing to shrink. The bad news is that the trend isn’t likely to last. Even as the Treasury Department prepares to release figures tomorrow showing a fifth straight year of declining deficits, the shortfall is predicted to rise again in the presidential election year of 2016. Spending topped revenue by $486 billion in the year to Sept. 30, making it the smallest gap as a share of the economy – 2.8 percent – since 2007, according to Congressional Budget Office projections….Read More
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