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US Budget Deficit to Hit Lowest Since 2018 This Year, CBO Says

  • Budget office released long-term budget outlook Wednesday
  • GDP growth to slow as fertility, labor productivity decline
The US Treasury building in Washington, D.C.

The US Treasury building in Washington, D.C.

Photographer: Joshua Roberts/Bloomberg

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The US federal budget is headed for the narrowest deficit in four years as pandemic stimulus spending winds down and the Treasury enjoys a record influx of revenue, according to the Congressional Budget Office.