CBO gives less rosy deficit forecast for White House budget

04/17/2014 | Hill, The

The Congressional Budget Office estimates that President Barack Obama's budget will lead to $6.6 trillion in deficits during the 10 years ahead, while the White House has estimated $4.9 trillion. The CBO and the White House also differ in their predictions of the percentage that the federal debt level would take in gross domestic product by 2024. The CBO thinks it will be 74% of GDP, and the Obama administration says it will be 69%.

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