What should the U.S. deficit be for the foreseeable future?
*Reuters, by Richard Cowan & Jeremy Pelofsky, January 7, 2009
“The U.S. budget deficit will swell to $1.186 trillion in the 2009 fiscal year that ends on Sept. 30, the Congressional Budget Office will forecast on Wednesday in a new assessment of the ailing economy, according to a government source.”
The huge budget deficit anticipated in fiscal 2009 is in contrast to the roughly $455 billion deficit recorded last year and presents an enormous challenge to President-elect Barack Obama.”
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