CBO sees lower growth and lower deficit
The US Congressional Budget Office lowered its estimates of the US fiscal deficit for the 2019 fiscal year.
They now see the deficit at $897 billion compared to the $981 billion deficit in the April estimate. That's 4.2% of GDP instead of 4.6%.
At the same time, they trimmed their 2019 US growth estimate to 2.3% from 2.4% with the shutdown cutting 0.1 pp from Q4 and 0.2 pp from Q1 2019.
They see the deficit above $1 trillion in 2022 now compared to a rise above that level in 2020 previously.
