Deficit in U.S. to Narrow to $468 Billion This Year, CBO Says

The U.S. Capitol dome stands surrounded by scaffolding while under repairs in Washington on Jan. 20, 2015. President Barack Obama was set to focus on the gap between wealthy Americans and middle- and lower-income households Tuesday night when he lays out his plans for what the White House is calling the “fourth quarter” of his presidency.

Photographer: Andrew Harrer/Bloomberg

The U.S. budget deficit will shrink for a fifth straight year in 2016, marking the longest span of improvement since the surpluses of the late 1990s, as falling unemployment helps increase revenue, the Congressional Budget Office said.

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