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White House Touts CBO Analysis of Obama's Budget

Comstock/Thinkstock(WASHINGTON) -- The White House is cheering the findings of a new CBO analysis of the president’s budget, saying it “confirms that the President has a balanced plan to reduce our budget deficits and put the country on a fiscally sustainable path.”

The report forecasts the Obama budget would produce a $997 billion deficit next year, $75 billion more than the administration predicted.

In a White House blog, OMB Director Jeff Zients notes that the “CBO shows that we can achieve this level of deficit reduction by pursuing a balanced plan that asks everyone to shoulder their fair share.”

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