Budget and Economic Outlook: An Update – August 2011
Budget and Economic Outlook: An Update – August 24, 2011 “The United States is facing profound budgetary and economic challenges. At 8.5 percent of gross domestic product (GDP), the $1.3 trillion budget deficit that the Congressional Budget Office (CBO) projects for 2011 will be the third-largest shortfall in the past 65 years (exceeded only by …