CBO Budget Forecast presented this Morning

This morning, Congressional Budget Office Director  Douglas W. Elmendorf presented the CBO’s budget forecast this morning on C-SPAN.  Their  new Budget and Economic Outlook  shows a small improvement in the deficit, but rising unemployment.  Their report projects a $1.1 trillion federal budget deficit for FY 2012, or a 7 percent drop from last year. However, it also projects unemployment to rise to 8.9 percent in 2012.

For a summary of the CBO Report and it’s associated resources: