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White House: Budget deficit to rise to $600B

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WASHINGTON » The White House is predicting the government’s budget deficit for the soon-to-close fiscal year will hit $600 billion. That’s an increase of $162 billion over last year’s tally and a reversal of a steady trend of large but improving deficits on President Barack Obama’s watch.

The disappointing figures, while expected, come after the deficit has steadily declined since the huge $1.4 trillion deficit Obama inherited after the deep 2007-2009 recession and the associated fiscal crisis.

According to many economists, the improving economy, tax increases on higher-income earners and cuts to annual agency budgets have helped close the gap but the longer-term picture is troubling.

Neither Hillary Clinton nor Donald Trump has focused much on deficits and debt, but the rising figures may lend more urgency to the issue.

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  • There goes Hillary’s utterly shibai plan for free college for everyone.

    Could also cut the deficit by not funding the Nei’s failing rail debacle.

  • Utterly disgusting and all four of our legislators should demand fiscal responsibility then actually DO something or get out of the way so we can elect a responsible congressperson. What a shame!

      • Agreed – thanks to them the deficit has significantly decreased. Yes, they were responsible for the increase due to their unjust war in Iraq. The sad thing though is that none of our legislators can take any credit for the decrease. On second thought, maybe Shatz can for loosing all of that military funding that Inouye once brought in.

    • You mean leaving the country in way better shape than it was when he took over? That’s the opposite of what the GOP did with the White House. They took over and destroyed the economy, sent thousand of U.S. troops to their certain deaths, and let the worst attack on domestic soil happen since WWII. Yeah…selective memory must serve you well.

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