05-14-2013, 09:58 PM
obviously a coverup and a conspiracy..
Budget Office Cuts Estimate of Nation’s 2013 Deficit by 24%
By ANNIE LOWREY
WASHINGTON — The nonpartisan Congressional Budget Office has slashed its projections of the current-year fiscal deficit because of bigger-than-expected tax receipts and payments from Fannie Mae and Freddie Mac.
In a periodic update to its projections, the office on Tuesday estimated that the deficit for the current fiscal year, which ends on Sept. 30, would be about $642 billion, or 4 percent of economic output. Just three months ago, it projected that the current-year deficit would be $845 billion, or about 5.3 percent of economic output.
The $203 billion, or 24 percent, reduction to the estimated deficit does not comes from the $85 billion in mandatory cuts known as sequestration, or the package of tax increases that Congress passed this winter to avoid the so-called fiscal cliff. The office had already incorporated those policy changes into its February forecasts.
Rather, it comes mostly from higher-than-expected tax payments from businesses and individuals, as well as an increase in payments to the taxpayers from the bailed-out mortgage financiers Fannie Mae and Freddie Mac.
The Congressional Budget Office said it had bumped up its estimates of current-year tax receipts from individuals by about $69 billion and from corporations by about $40 billion. The office said the factors bolstering tax payments seemed to be “largely temporary,” in part because of higher-income households realizing investment income before tax rates went up in the 2013 calendar year.
more...http://www.nytimes.com/2013/05/15/business/cbo-cuts-2013-deficit-estimate-by-24-percent.html?_r=0
Who are these "Congressional Budget Office" commies anyway!!??
Budget Office Cuts Estimate of Nation’s 2013 Deficit by 24%
By ANNIE LOWREY
WASHINGTON — The nonpartisan Congressional Budget Office has slashed its projections of the current-year fiscal deficit because of bigger-than-expected tax receipts and payments from Fannie Mae and Freddie Mac.
In a periodic update to its projections, the office on Tuesday estimated that the deficit for the current fiscal year, which ends on Sept. 30, would be about $642 billion, or 4 percent of economic output. Just three months ago, it projected that the current-year deficit would be $845 billion, or about 5.3 percent of economic output.
The $203 billion, or 24 percent, reduction to the estimated deficit does not comes from the $85 billion in mandatory cuts known as sequestration, or the package of tax increases that Congress passed this winter to avoid the so-called fiscal cliff. The office had already incorporated those policy changes into its February forecasts.
Rather, it comes mostly from higher-than-expected tax payments from businesses and individuals, as well as an increase in payments to the taxpayers from the bailed-out mortgage financiers Fannie Mae and Freddie Mac.
The Congressional Budget Office said it had bumped up its estimates of current-year tax receipts from individuals by about $69 billion and from corporations by about $40 billion. The office said the factors bolstering tax payments seemed to be “largely temporary,” in part because of higher-income households realizing investment income before tax rates went up in the 2013 calendar year.
more...http://www.nytimes.com/2013/05/15/business/cbo-cuts-2013-deficit-estimate-by-24-percent.html?_r=0
Who are these "Congressional Budget Office" commies anyway!!??