US CBO lowers deficit estimate

• Sees 2017 revenues of 3.404 trillion compared to 3.276 trillion in August estimates
• Sees 2017 outlays at 3.963 trillion compared to 4.015 trillion in August estimates
• Deficit seen a $559B vs $594B prior
• Deficit to GDP seen at 2.9% vs 3.1% prior

The Republicans deliver on the infrastructure spending that's priced into markets, those deficit numbers will rise.
In terms of growth, they forecast 2.3% in 2017 and 2.0% in 2018. That's very close to the consensus view.
Projected deficit to GDP

• 2018 2.4%
• 2019 2.9%
• 2020 3.2%
• 2021 3.6%
• 2022 4.2%