U.S. CBO sees smaller deficit, growing economy

02/6/2013 | U.S. News & World Report

Depending on what the U.S. Congress does on the economic front, the Congressional Budget Office projects a budget deficit this year of $845 billion, or 5.3% of GDP. However, the national debt is expected to remain at a historically high level of 76% of GDP, or $12.2 trillion, while GDP itself is forecast to grow 1.4% in 2013.

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