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Deeper in the Red

The budget deficit this year is projected to swell to $1.2 trillion, or 8.3 percent of U.S. economic output. That total, however, does not include the effects of any future legislation.

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Congress Urges Spending Restraint
Article | The nation's budget deficit will soar to an unprecedented $1.2 trillion this year, congressional budget analysts said yesterday, a startling tide of red ink that could dampen enthusiasm on Capitol Hill for some of President-elect Barack Obama's most ambitious priorities.

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