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Obama to forecast $1.33 trillion budget deficit

Last Updated: Saturday, February 11, 2012 - 09:14

Washington: President Barack Obama's budget to be released on Monday will project a USD 1.3 trillion deficit in fiscal year 2012, an administration official said.

Obama's last annual budget before he seeks reelection in November will also project a USD 901 trillion deficit for fiscal year 2013, and will frame his campaign trail message of a fair fight for all.

The budget deficit recorded in 2011 was USD 1.296 trillion.

The spending plan, details of which were first reported by the Wall Street Journal and Dow Jones Newswires, will also include more than USD 350 billion for short-term job creating programmes.

The official confirmed that the proposal also includes USD 476 billion dollars in infrastructure spending on roads and other transport projects and includes more than USD 360 billion in savings from government-run health programs for seniors and the poor.

The budget is likely to mirror a spending plan laid out to avert a government shutdown in September.


First Published: Saturday, February 11, 2012 - 09:14
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