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CBO: Projected US budget deficit comes in lower than expected

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In what is a first in years, the Congressional Budget Office projected a $642 billion budget deficit for fiscal 2013, reports USA Today.

This is down from the office’s February forecast, which placed the deficit about $200 billion higher and the smallest annual shortfall since 2008.

The publication noted it's the lowest deficit spending level under President Obama, who experienced $1 trillion or more in annual deficits during his first term.

 

Source: USA Today
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