Social Issues Breaking News: White House Sees Smaller Budget Deficit in 2013

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Social Issues Breaking News: White House Sees Smaller Budget Deficit in 2013

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Social Issues Breaking News: White House Sees Smaller Budget Deficit in 2013

by Wochit 1:07 mins

Social Issues Breaking News: White House Sees Smaller Budget Deficit in 2013

by Wochit 1:07 mins

The White House lowered its projection for economic growth this year while issuing rosier estimates on unemployment and the federal budget deficit. In its annual "mid-session review" budget update, the White House said it expects the economy to grow 2.4% this year, lower than the 2.6% it projected in April.... A proposal by Senator Orrin Hatch of Utah would enable governments to turn their pension plans over to life insurers. Greece's economy could shrink by as much as 5 percent this year, the Athens-based IOBE think tank said, revising down its previous projection and offering a more pessimistic forecast than the country's foreign lenders. Athens, which has been limping along on bailout funds since 2010, secured its latest lifeline from its European Union and International Monetary Fund lenders on Monday but was told it must keep its promises on cutting public sector jobs and on selling state assets to get all the cash. ...

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