WASHINGTON (AP) - A congressional official says the Obama administration's new budget pegs the national deficit in the current fiscal year at a record of $1.6 trillion and that the deficit number for the 2011 fiscal year is $1.3 trillion.
In addition, the official said Sunday, deficits over the next decade will average 4.5 percent of the size of the economy, a level which
economists say is dangerously high if not addressed.
The official spoke on condition of anonymity because the official was not authorized to discuss the budget before its public release.
To comment, the following rules must be followed:
Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to email@example.com. Please provide detailed information.