Obama Budget Forecasts Bigger Deficit
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President Obama’s budget request to Congress on Monday will forecast a deficit of $1.33 trillion in fiscal year 2012 and will include hundreds of billions of dollars of proposed infrastructure spending, the Wall Street Journal reports. The projected deficit is slightly higher than the $1.296 trillion deficit in 2011. Bloomberg notes Obama will project a deficit of $901 billion for fiscal 2013 budget, based on the assumption Congress “accepts all the White House’s policy recommendations for everything from ending Bush-era tax cuts for families earning $250,000 or more to programs for education, infrastructure and manufacturers.”
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Obama Budget Forecasts Bigger Deficit