Obama Budget Forecasts Bigger Deficit

Worth Clicking: Blasts from the past wound Romney

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February 10, 2012

Obama Budget Forecasts Bigger Deficit

President Obama's budget request to Congress on Monday will forecast a deficit of $1.33 trillion in fiscal year 2012 and will include hundreds of billions of dollars of proposed infrastructure spending, the Wall Street Journal reports.

The projected deficit is slightly higher than the $1.296 trillion deficit in 2011.

Bloomberg notes Obama will project a deficit of $901 billion for fiscal 2013 budget, based on the assumption Congress "accepts all the White House's policy recommendations for everything from ending Bush-era tax cuts for families earning $250,000 or more to programs for education, infrastructure and manufacturers."

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Taegan D. Goddard is the founder of Political Wire, one of the earliest and most influential political web sites.

Goddard spent more than a decade as managing director and chief operating officer of a prominent investment firm in New York City. Previously, he was a policy adviser to a U.S. Senator and Governor.

Goddard is also co-author of You Won - Now What? (Scribner, 1998), a political management book hailed by prominent journalists and politicians from both parties. In addition, Goddard's essays on politics and public policy have appeared in dozens of newspapers across the country, including the Washington Post, USA Today, Boston Globe, San Francisco Chronicle, Chicago Tribune, Philadelphia Inquirer and Christian Science Monitor.

Goddard earned degrees from Vassar College and Harvard University. He lives in New York with his wife and three sons.

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February 10, 2012