The federal budget deficit will reach at least $337 billion for the current year, according to the
Congressional Budget Office, and the deficit is likely to go higher because of tax cuts and new additional spending for hurricane relief and the war in Iraq.
The deficit estimated by the nonpartisan CBO was lower than predicted by the White House budget office, which two weeks ago said the 2006 deficit would top $400 billion because of emergency aid for victims of...
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