Obama Sees 2013 Deficit Lowest in Five Years, GDP Growth at 2.0%

[Triana]

The Obama administration projects that the federal budget deficit will drop to the lowest level in five years, $759 billion for the year ending Sept. 30, as the economy improves and tax collections increase.

The Office of Management and Budget said in an update of its forecasts that the economy may grow 2 percent this calendar year. That’s slower than the 2.3 percent growth rate predicted three months ago. The median forecast of 86 analysts surveyed by Bloomberg is for a 1.9 percent gain.

Next year, the administration projects the economy will grow by 3.1 percent, down from 3.2 percent seen in April. Analysts surveyed by Bloomberg forecast a median increase of 2.7 percent in 2014.

While the deficit figures released yesterday are lower, that’s “only temporary,” said Maya MacGuineas, president of the Committee for a Responsible Federal Budget, a Washington-based group that seeks lower deficits. “The long-term situation, however, remains as dismal as it’s been.”

MORE...

http://www.bloomberg.com/news/print/2013-07-08/obama-sees-2013-deficit-drop-to-759-billion-gdp-growth-at-2-0-.html

[Major Hogwash]

1. Hmmm, 2% growth in GDP, that ought to cause some heads to 'splode at CNBC.

Man, the Republicans did everything they could over the last 5 years to keep America from recovering from Bush's huge financial disaster, yet it didn't work.

I wonder what the crackpots on CNBC have to say about this.
The very same douchebags that were saying last July that companies weren't hiring because of the uncertainty of President Obama's policies.

Kudlow sux.

[trumad]

3. Heads explode onn CNBC---shit!

Heads explode on DU.

[Major Hogwash]

5. Donny Douchebag was soooo serious last year when he was on their programs.

Yet, he would whistle a different tune out of his ass whenever he went on Joe Scarbrow's program on MSNBC to talk about economic issues.
He's like the worst financial weather vane I have ever seen.

[liberal_at_heart]

2. and yet wages are more depressed than ever. I am glad to hear unemployment, the deficit, and

GDP are doing better, but the truth is some will never stop feeling the pain of the recession because wages are so low.

[Triana]

4. That's been the "free trade", union-busting, outsourcing objective

Drive wages into the gutter.

Fickin' ROBBER BARONS have never changed. They're greedy as ever.