Report: White House ups projected deficit by $2 trillion

Late on a Friday comes this jaw-dropping news:

An anonymous White House budget official tells the Associated Press that the Obama administration now expects the U.S. budget deficit to hit $9 trillion during the next decade, $2 trillion more than first estimated.

The projections will be released officially next week.

Posted by Michael Winter at 05:53 PM/ET, August 21, 2009 in Economy, Washington
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