CBO Reduces 2010 Budget Deficit Estimate By $26 Billion, Increases 2011 Deficit Projection By $70 Billion
Just Reuters headlines for now: the CBO has reduced its 2010 budget deficit from $1.368 trillion to $1.342 trillion, even as it kicks the can down the road yet again, raising the 2011 budget deficit estimate from $0.966 trillion to $1.066 trillion: in other words a net deficit increase by $44 billion. Good thing nobody even cares about the 2012 number now that Mayan apocalypse predictions are fully priced into a Dow 36,000 number.
More when we get it.
The Congressional Budget Office will release its 2010 Budget and Economic Outlook: An Update on Thursday, August 19, at 10 a.m. The document will be available at that time on the agency's Web site.
There will be a press briefing following the release for credentialed
press only. CBO Director Douglas Elmendorf is scheduled to conduct the
on-the-record briefing at 11 a.m. A limited number of hard copies of the
report will be available at the briefing.
Date: Thursday, August 19, 2010 Time: 11 a.m. Location: Congressional Budget Office
Ford House Office Bldg.
2nd & D Streets, S.W.