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Obama budget to forecast $901 bln deficit in 2013
February 10, 2012 / 6:56 PM / 6 years ago

Obama budget to forecast $901 bln deficit in 2013

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.

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