“A new report says the government’s budget deficit is set to fall to $514 billion for the current year, down substantially from last year and the lowest by far since President Barack Obama took office five years ago.

The Congressional Budget Office report credits higher tax revenues from the rebounding economy and sharp curbs on agency spending as the chief reason for the deficit’s short-term decline.

But CBO sees the long-term deficit picture worsening by about $100 billion a year through the end of the decade because of slower growth in the economy over the coming decade than it had previously predicted.”* The Young Turks host Cenk Uygur breaks it down.

*Read more here from Andrew Taylor / AP / The Huffington Post:
http://www.huffingtonpost.com/2014/02/04/budget-deficit-cbo_n_4723511.html

**********

The Largest Online News Show in the World. Hosted by Cenk Uygur and Ana Kasparian. LIVE STREAMING weekdays 6-8pm ET.

Young Turk (n), 1. Young progressive or insurgent member of an institution, movement, or political party. 2. Young person who rebels against authority or societal expectations. (American Heritage Dictionary)

Download audio and video of the full two hour show on-demand + the members-only post game show by becoming a member at http://tytnetwork.com/tytmembership. Your membership supports the day to day operations and is vital for our continued success and growth.