by Calculated Risk on 10/07/2013 01:41:00 PM
Monday, October 07, 2013
CBO Report on Fiscal 2013 Deficit
The CBO monthly budget report for September (and fiscal 20131) that was due today has been delayed. From the CBO: CBO's Monthly Budget Review Will Not Be Published Today
Because a lapse in appropriated funds has caused CBO to largely shut down its operations, the Monthly Budget Review, which ordinarily would be issued this morning, will not be published today or during the duration of the government shutdown.The CBO has been projecting the deficit would decline significantly this year:
emphasis added
[T]he budget deficit will shrink this year to $642 billion, the Congressional Budget Office (CBO) estimates, the smallest shortfall since 2008. Relative to the size of the economy, the deficit this year—at 4.0 percent of gross domestic product (GDP)—will be less than half as large as the shortfall in 2009, which was 10.1 percent of GDP.Flying blind. Time to end the shutdown.
1 The Federal Government fiscal year runs from Oct 1st through September 30th of each year.