CBO: Federal deficit will drop to lowest level since Obama took office

(Image credit: Chip Somodevilla/Getty Images)

The Congressional Budget Office said Monday that the budget deficit should this year shrink to its lowest level as a percentage of the economy since 2007.

The nonpartisan agency said the deficit for the fiscal year, which ends in September, will be $468 billion, down a tick from last year's $483 billion mark. In addition, the CBO said there were 19 million fewer uninsured Americans this year compared to the year before thanks to changes implemented under ObamaCare.

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up

Continue reading for free

We hope you're enjoying The Week's refreshingly open-minded journalism.

Subscribed to The Week? Register your account with the same email as your subscription.