Federal Budget Deficit Estimates Are Raised
Reuters
WASHINGTON —
The Congressional Budget Office released new, higher estimates of the federal budget deficit Thursday, blaming the erosion on higher interest rates and lower-than-anticipated revenues.
Since August, the deficit estimate for fiscal 1996, starting Oct. 1, has risen from $176 billion to $207 billion, and for fiscal 1997 from $193 billion to $224 billion.
Get the L.A. Times Politics newsletter
Deeply reported insights into legislation, politics and policy from Sacramento, Washington and beyond. In your inbox three times per week.
You may occasionally receive promotional content from the Los Angeles Times.
