U.S. to trim billions off budget deficit estimate
Obama axes bailout cash to reduce projected figure to $1.58 trillion
Reuters
Aug 20, 2009
WASHINGTON - The Obama administration will trim its budget deficit forecast for fiscal 2009 to $1.58 trillion, after scrapping money earmarked for bailing out more banks, officials said on Wednesday.
The record deficit has made investors anxious and threatens to thwart Obama's ambitious domestic agenda to overhaul health care, reform education and make the country less reliant on fossil fuels.
Polls show the deficit is one of the top concerns of Americans who fear that it could lead to higher taxes.
(Continued here.)
Reuters
Aug 20, 2009
WASHINGTON - The Obama administration will trim its budget deficit forecast for fiscal 2009 to $1.58 trillion, after scrapping money earmarked for bailing out more banks, officials said on Wednesday.
The record deficit has made investors anxious and threatens to thwart Obama's ambitious domestic agenda to overhaul health care, reform education and make the country less reliant on fossil fuels.
Polls show the deficit is one of the top concerns of Americans who fear that it could lead to higher taxes.
(Continued here.)
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