Feb. 4 (Bloomberg) — The United States will post the narrowest budget deficit this year as a share of the economy since 2007 as stronger growth helps boost tax revenue, according to the Congressional Budget Office.
The deficit will decline to $514 billion this fiscal year from $680 billion in 2013 before surging to $1.074 trillion in a decade, according to the Congressional Budget Office.
A stronger economy, lower unemployment, higher tax revenue and payments from mortgage-finance companies Fannie Mae and Freddie Mac are helping narrow the gap from the 2009 record shortfall of $1.4 trillion.
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