It also criticised the Treasury's understanding of the Bank of England's quantitative easing programme.
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The Bank has now suspended its quantitative easing programme, but the government needs to borrow a great deal of money in the coming year.
One reason may be that the Federal Reserve has been buying so much of the year's debt issuance, as part of its quantitative easing programme.
On the flip side, once the Bank of England begins unwinding the quantitative easing programme, the deficit will rise again, so one could see the transfer as a temporary effect.
Until recently, analysts had expected the Federal Reserve to reduce its quantitative easing programme, known as QE3, in the second half of this year, but now many are not so sure.
Mr Cameron is thought to be in support of a plan for the European Central Bank effectively to print money in a Continent-wide quantitative easing programme which could be used to rescue Italy and possibly Spain.
However, if we start to assume that the economy is on a balanced growth path does that not imply that the Fed will start to weigh their options of winding down the addition policy accommodation that has been extended, i.e. the Quantitative Easing programme?
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In an interview for the Aberdeen Press and Journal at the weekend, the Bank's chief economist, Spencer Dale, said it would not be appropriate for the BoE to restart its quantitative easing programme if supply-side problems, rather than a lack of demand, were the reason for the UK's weak economic recovery.
With inflation predicted to rise in coming months and to remain above the BoE's 2 per cent target for much of the next two years, the committee's forecasts gave no hint of a resumption of the bank's quantitative easing programme, which creates money to buy assets, but also no sign of a rise in interest rates on the horizon.
Economists also said the data revived the possibility that the Bank might decide to increase its "quantitative easing" programme of buying up government debt in order to pump more cash into the economy, if the recovery falters.
The continuing quantitative easing (QE) programme has been thrown into some doubt by last week's minutes from the Fed Open Markets Committee.
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The figures could renew calls for the Federal Reserve to maintain its monetary stimulus programme of quantitative easing.
The Bank of England has decided not to expand its stimulus programme of quantitative easing and has also kept interest rates unchanged at 0.5%.
And he says the Bank of England should halt its programme of quantitative easing - the process by which more money is pumped into the economy - until it is clear that banks are passing more cash on to businesses through increased lending.
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