White House lowers budget deficit estimate to $455B

[n2doc]

Source: CNBC

The White House predicts this year's budget deficit will register at $455 billion, less than it forecast in February and the lowest yet of Barack Obama's presidency.

The new figure is slightly less than 2014's deficit of $483 billion. In February, the administration predicted a deficit of $583 billion.

During Obama's first term, deficits topped $1 trillion each year. That reflected a severe financial crisis and the worst recession since the Great Depression of the 1930s.

But as the economy has recovered, revenues have gone up. The rates of inflation for expensive health care programs like Medicare have fallen and annual agency budgets have remained tight, contributing to the improved deficit picture.

Read more: http://www.cnbc.com/2015/07/14/white-house-lowers-budget-deficit-estimate-to-455b.html

[truthisfreedom]

1. Well yeah, of course, because Obama.

Obama rules.

[Wellstone ruled]

2. Eliminate the Bush Tax give away,

and you have a 400 billion surplus.

[Cali_Democrat]

3. Bush left quite a mess....seems Obama has cleaned much of it up.

The greatest fiscal crisis since the great depression.

[Botany]

4. Is there no stopping the Keyan Socialist?

[Doctor_J]

5. another conservative initiative achieved

[grahamhgreen]

6. Just imagine if the wealthiest paid their fair share and we ended the endless wars...