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CBO makes it offficial — Obama broke deficit pledge

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The Congressional Budget Office on Friday reported that the federal government ran a $1.1 trillion deficit in fiscal year 2012, making it official that President Obama broke his promise to cut the deficit in half within his first term in office. On Feb. 23, 2009 (a month into his presidency) Obama convened a “fiscal responsibility summit” in the White House, and declared , “[T]oday,...