CBO budget projections see stable economy

By  | 

WASHINGTON (AP) - Congressional analysts are projecting that President Donald Trump has inherited a stable economy and a government that is on track to run a $559 billion budget deficit for the ongoing budget year.

The new estimates from the nonpartisan Congressional Budget Office also say the economy will hold relatively steady. Economic growth is projected to rise slightly to 2.3 percent this year and unemployment to average less than 5 percent for the duration of Trump's term.

The latest CBO figures are in line with previous projections. They come as Trump and Republicans controlling Congress are working to repeal much of former President Barack Obama's signature health care law, boost the Pentagon budget, and reform the loophole cluttered tax code.

Balancing the budget would require cuts to domestic agencies and big health programs like Medicare

(Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)



 
Comments are posted from viewers like you and do not always reflect the views of this station. powered by Disqus