The CBO's Good News, Bad News Economic Report
The federal deficit is on track to its lowest level as a percentage of the economy since 2007, and the economy is stronger than expected.
That's the good news from the nonpartisan Congressional Budget Office's new economic outlook released Monday. "Economic activity will expand at a solid pace in 2015 and over the next few years — reducing the amount of underused resources, or 'slack,' in the economy," the report said.
There is, though, the perennial bad news: huge deficits in later years, driven primarily by an aging population supported...