White House trims 2014 deficit projection to $583 bln

WASHINGTON, July 11 Fri Jul 11, 2014 2:58pm EDT

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WASHINGTON, July 11 (Reuters) - The White House lowered its deficit forecast for 2014 by $66 billion to $583 billion on Friday on the basis of an improving economy.

"The deficit has been cut by more than half as a share of the economy, representing the most rapid sustained deficit reduction since World War Two, and it continues to fall," acting White House budget director Brian Deese said in a statement. (Reporting By Mark Felsenthal; Editing by Doina Chiacu)

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