CBO: 2010 Deficit At $1.3 Trillion

The U.S. economy faces even more difficult times ahead with chronic high unemployment rates and slow manufacturing growth hurting the recovery, Congressional Budget Office [CBO] Director Douglas Elmendorf said Thursday. CBO forecast the U.S. budget deficit will hit $1.342 trillion this year, down slightly from its March projection of $1.368 trillion. – Reuters

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