Obama to raise 10-year deficit to $9 trillion

The Obama administration will raise its 10-year budget deficit projection to approximately USD 9 trillion from USD 7.108 trillion in a report next week, a senior administration official a news agency on Friday.

US deficit estimate to be trimmed to $1.58 tr

The Obama administration will trim its budget deficit forecast for fiscal 2009 to USD 1.58 trillion, after scrapping money earmarked for bailing out more banks, officials said on Wednesday.