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Tag Archives: congressional budget office

CBO: this year’s budget deficit to hit $1.5T

WASHINGTON — A continuing weak economy and last month’s bipartisan tax cut legislation will drive the government’s deficit to a record $1.5 trillion this year, a new government estimate predicts. The eye-popping numbers mean the government will continue to borrow ...

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Treasury Secretary Geithner says bailout will cost less than $25B

WASHINGTON — Treasury Secretary Timothy Geithner said Thursday that the $700 billion financial bailout will end up costing taxpayers less than congressional analysts have estimated. The Congressional Budget Office has estimated that taxpayers will lose $25 billion on the rescue ...

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Budget analysts see 2010 deficit at $1.3 trillion

WASHINGTON — Congress’ budget analysts are estimating that this year’s federal deficit will exceed $1.3 trillion, slightly below last year’s total but still a huge ocean of red ink. The nonpartisan Congressional Budget Office said the enormous shortfall is a ...

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