The Deficit Hasn't Vanished, But It Sure Has Lost WeightPaul Magnusson
The federal budget deficit is coming down even faster than previously predicted, according to the Office of Management & Budget. The deficit for the current fiscal year will be $220 billion, $15 billion below what was projected last February and $85 billion below the estimate made before passage of President Clinton's five-year budget plan last fall. Thanks to an expanding economy, the trend is expected to continue, pushing the deficit down to $167 billion in fiscal 1995.
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