Administration Increases Deficit Projections

Citing the severity of the recession, the Obama administration today raised its projection from $7.3 trillion to $9 trillion over the next 10 years.

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Citing the severity of the recession, the Obama administration today raised its projection from $7.3 trillion to $9 trillion over the next 10 years.

The Office of Management and Budget also predicted that the economy would contract 2.8% this year and unemployment would peak at 10%.

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