Report: Deficit Will Be Much Higher Than Initially Projected For 2016
by Juliegrace Brufke The federal deficit will be a whopping $56 billion more than initially anticipated, coming in at $590 billion by the end of the 2016 fiscal year. The Congressional Budget Office (CBO) largely attributed the increase from January’s forecast in its Tuesday report to a decline in personal and corporate tax receipts. The increase will make 2016 the…