Estimation: 10-Year Deficit Raised to $9 Trillion

The federal deficit will soar to nearly $1.6 trillion this year, the nonpartisan Congressional Budget Office and the White House projected yesterday.

The Obama administration’s Office of Management and Budget raised its 10-year tally of deficits expected through 2019 to $9.05 trillion, nearly $2 trillion more than it projected in February. That would represent 5.1 percent of the economy’s estimated gross domestic product for the decade, a higher level than is generally considered healthy….read more

Watch the video “First Person: Federal Deficits Much Worse?”

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