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CBO Predicts 2012 Deficit at $1.08T

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  • Description

    FBN’s Peter Barnes breaks down the latest reports from the Congressional Budget Office.

  • Duration 1:22
  • Date

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One point 08 trillion -- official big number fourth.

Fourth trillion dollar deficit in a row from the CBO's annual forecast just.

Out today sure -- fire up the political debate in this election -- I Wright is saying that the last estimates a few months ago was that the deficit was going to be -- 973.

Billion.

The new estimate now puts it above a trillion so debt so the estimation is gone off in fact.

Well that they want to nine point 7970.

Billion was from the administration the Office of Management and Budget that was the most recent official forecast from a government agency.

And the OO MB will be putting out its new projections when it releases its budget in two weeks but the CBO always gets a little bit ahead of it here so we could actually see the administration revised up its deficit forecast as well -- tell -- repeat one more time is it three all full year is in a row.

Of a trillion dollars worth of Reading.

Fall and -- Lower if if -- wanted to three.

Far as my grandson.

Liked -- count down smile on him but that's not funny that is a huge pile of Reading that just is an ocean of and it has over five trillion -- over five trillion yet -- cut -- thank you very much indeed right on the -- -- -- -- -- the number we appreciate -- thanks very much --

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