Long-term U.S. budget seen 'unsustainable'

The long-term U.S. budget outlook is "unsustainable" though increased tax revenue has cut into the deficit more than expected, a government report said.

Long-term U.S. budget seen 'unsustainable'
The long-term U.S. budget outlook is "unsustainable" though increased tax revenue has cut into the deficit more than expected, a government report said.

The Congressional Budget Office projects that the government will be $158 billion in the red in 2007, The Hill, a Washington newspaper, said Friday. That's $19 billion less than predicted in March.

Additional revenue, mostly from individual income taxes, was credited for the more positive picture.

But, the prediction for 2009 an 2010 calls for the deficit to rise to a greater share of the gross domestic product.

"Over the long term," the CBO said, "the budget remains on an unsustainable path."

UPI
Last Mod: 24 Ağustos 2007, 19:07
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