U.S. Budget Deficit Likely To Hit 250 Billion This Year As Economy Weakens

Such a figure greatly exceeds the $163 billion in red ink registered last year. "After three years of declining budget deficits, a slowing economy this year will contribute to an increase in the deficit," the CBO report said. Senator Kent Conrad (D-N.D.), the Senate budget committee chairman, said the 2008 deficit would reach more than $350 billion once the costs of an upcoming economic stimulus measure are factored in. ... http://ca.news.yahoo.com/s/capress/080123/business/us_budget_deficit

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