Paletta, Adamy & Weisman, Wall Street Journal
WASHINGTON—The federal budget deficit will reach a record of nearly $1.5 trillion in 2011 due to the weak economy, higher spending and fresh tax cuts, congressional budget analysts said, in a stark warning that will drive the growing battle over government spending and taxation.At that size, the deficit—up from $1.29 trillion in 2010—would be roughly $60 billion more than the White House projected last summer, the nonpartisan Congressional Budget Office said Wednesday.
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