Recession Increases Deficit by $50 Billion
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From the Washington Post
WASHINGTON — The recession will add about $50 billion to the federal budget deficit for the current fiscal year, bringing the gap between tax revenue and spending to between $300 billion and $325 billion, according to the latest Administration figures.
That total excludes as much as $30 billion in additional money that will probably be needed to pay for American troops in the Persian Gulf.
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