Government Deficit Report Inflames, Illustrates Budget Debate

A report showing the government will run a budget deficit of more than $1 trillion for the fourth consecutive year inflamed a debate over the federal shortfall that’s unlikely to be resolved before the November election.

The Congressional Budget Office said yesterday it expects this year’s gap between spending and revenue to total $1.1 trillion, down from last year’s $1.3 trillion. It attributed the decline to stronger tax revenue and the smallest increase in spending in years.