White House Lowers Projected Deficits for 2012 and Beyond - NYTimes.com:
"WASHINGTON — The federal budget deficit will be slightly lower for fiscal year 2012 and for the rest of the decade than projected earlier this year, the Obama administration said Friday. Its required midyear update on the nation’s fiscal health showed that while revenues are coming in lower than projected — a consequence of a slowed economy — federal spending has been lower as well."
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