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Tuesday, January 31, 2012

U.S. Will Run $1.1 Trillion Deficit, CBO Says | Free Enterprise

U.S. Will Run $1.1 Trillion Deficit, CBO Says | Free Enterprise: " The U.S. budget deficit will shrink this year to $1.1 trillion, the Congressional Budget Office said today in a report sure to inflame the election-year debate over the government shortfall.
The deficit, which would be down from last year’s $1.3 trillion, will fall because of strengthening tax revenue and a slowdown in government spending, the nonpartisan agency said.
Outlays this year will climb by 0.1 percent, or $3 billion, it said, while tax revenue will be up by 10 percent. It would be the fourth consecutive year the government runs a trillion- dollar deficit."

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