CBO's Monthly Budget Review has been released: The federal government incurred a deficit of $152 billion during the first eight months of fiscal year 2007, CBO estimates, $75 billion less than the shortfall recorded through May of last year. In comparison with receipts collected during the same period in 2006, revenues have risen by about 8 percent; outlays have grown by less than 3 percent. CBO expects that the government will end 2007 with a deficit of between $150 billion and $200 billion.