Deficits Will Start to Grow Again After 2015, According to CBO

Because of sluggish labor market

The Congressional Budget Office on Tuesday reduced its estimate of the U.S. budget deficit for the current fiscal year but said sluggish economic growth and stubbornly high unemployment will cause the improvement to be short-lived.

The CBO said the deficit will fall to $514 billion in the fiscal 2014 year ended September 30, down from its previous estimate of $560 billion and a fiscal 2013 deficit of $680 billion.