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White House sees FY 2015 U.S. deficit shrinking by $128 billion
July 14, 2015 / 8:33 PM / 2 years ago

White House sees FY 2015 U.S. deficit shrinking by $128 billion

WASHINGTON, July 14 (Reuters) - The White House on Tuesday revised its fiscal 2015 deficit estimate to $455 billion, down $128 billion from its previous estimate issued in February due to new calculations of higher revenues and lower spending outlays.

The Mid-Session Review budget update shows that the White House is now expecting real gross domestic product to rise by just 2.0 percent during calendar 2015, down from 3.0 percent estimated in February. (Reporting By David Lawder; Editing by Sandra Maler)

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