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Economy grows, but so does deficit, thanks to tax breaks, budget office says

Posted by Dustin Robinson on January 20, 2016 at 11:07 AM

Originally published on January 19, 2016 on the Los Angeles Times by Lisa Mascaro

The U.S. economy is on track to expand "solidly" this year, but the federal deficit is creeping up again, thanks in large part to a package of tax breaks enacted by Congress last year, officials said Tuesday.

Rising consumer demand is expected to boost the economy this year and next, potentially encouraging growth in both wages and employment, the nonpartisan Congressional Budget Office said. The unemployment rate is expected to dip to 4.5% by year's end.

Read the full story here: http://www.latimes.com/nation/la-na-cbo-economy-20160119-story.html