Obama Budget Reduces Federal Deficit by $900 Billion

The Center on Budget and Policy Priorities says that: Contrary to what you may have heard, the Obama budget “would reduce federal deficits by about $900 billion over the next ten years compared to current budget policies.” Note also that: Relative to their “realistic baseline,” the deficit is larger in the immediate short-run than the baseline projection (but by enough?), and smaller in the longer run (any truly long-run solution to the budget problem will require us to reform health care and reduce escalating costs).

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