White House Welcomes Record Low Budget Deficit At $468 Billion

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The President in India with Prime Minister Narendra Modi-- good news follows him

The Congressional Budget Office estimates that the U.S. budget deficit will decline to $468 billion this fiscal year -- this would be its lowest in the six years since President Obama was elected.

Last year the deficit had dipped to $483 billion; it was way over $1 trillion when Obama came into office. The White House says the new numbers prove that the president's policies are working.

"The estimates released today by CBO once again confirm the progress we’ve made in bringing down deficits and expanding access to healthcare under the Affordable Care Act," said Deputy Press Secretary Eric Schultz, in a statement. "Under the President’s leadership, the deficit has already been cut by about two-thirds as a share of the economy, the fastest sustained deficit reduction since World War II."

President Obama is still on his trip with the First Lady Michelle, to India. 

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