January 7, 2008
CBO today released the January monthly budget review. In the first quarter of fiscal year 2008 (the first quarter of the 2008 fiscal year covers October through December 2007), the budget deficit was $107 billion -- about $27 billion more than in the same quarter last year. On January 23, CBO will release its Budget and Economic Outlook, which will provide updated estimates of the budget for fiscal year 2008 along with the next ten fiscal years.