Better news on the federal deficit

The federal budget deficit is expected to drop to $642 billion this year, congressional budget analysts said Tuesday. That’s still too high, but it’s the lowest level since the economic crisis hit in 2008, the Washington Post reported. The Congressional Budget Office predicts that the deficit will fall below 3 percent of the overall economy by 2015 but will rise again by the end of the decade as more baby boomers retire.