Politics & Government

May 11, 2009 6:11 PM

Deficits soar even with rosy Obama budget assumptions

The White House on Monday projected 2009 and 2010 federal budget deficits far higher than it forecast just two and a half months ago, even as it continued to defy most experts and predict that the economy is headed for a strong comeback starting late this year. Economists scoffed at the latest administration predictions.

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