Obama budget to forecast $901 bln deficit in 2013

WASHINGTON Fri Feb 10, 2012 1:56pm EST

WASHINGTON Feb 10 (Reuters) - President Barack Obama will unveil a budget on Monday that projects a $901 billion deficit in fiscal 2013 while earmarking billions of dollars for jobs and infrastructure, a senior White House official said on Friday.

Obama's proposal to Congress will forecast the deficit in fiscal 2012 at $1.33 trillion before declining the following year, when it will account for 5.5 percent of U.S. gross domestic product (GDP), the official said.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.