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CBO lowers deficit projections

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On Tuesday, the Congressional Budget Office said that the federal government would run a $642 billion deficit in 2013, which is about $200 billion lower than previously forecast due to “higher-than-expected revenues and an increase in payments to the Treasury by Fannie Mae and Freddie Mac. ” If it holds, this would be the lowest since the 2008 deficit of $458.8 billion. According to CBO...

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