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Deficit as percentage of GDP

The deficit is projected to approach $1.5 trillion in 2011, the largest on record in nominal terms and one of the largest as a share of the economy since World War II. While the annual budget gap is projected to narrow as the economy improves, it will rise again rapidly unless Congress acts to make significant changes in spending patterns and tax policy, the CBO said.


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CBO projects U.S. budget deficit to reach $1.5 trillion in 2011, highest ever
Article | The still-fragile economy and fresh tax cuts approved by Congress last month will drive the federal deficit to nearly $1.5 trillion this year, the biggest budget gap in U.S. history, congressional budget analysts said Wednesday.
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Record U.S. deficit projected this year
Article | The still-fragile economy and fresh tax cuts approved by Congress last month will drive the federal deficit to nearly $1.5 trillion this year, the biggest budget gap in U.S. history, congressional budget analysts said Wednesday.

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