US on track to cut deficit by 40% in 2013: CBO

The US budget deficit will fall to $642 billion this year from $1.1 trillion in fiscal 2012, helped by surging revenues and repayments from housing agencies rescued in the 2008 crisis, the Congressional Budget Office forecast Tuesday. That was more than $200 billion lower than the deficit project…

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US on track to cut deficit by 40% in 2013: CBO

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