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WH predicts $1.2 trillion deficit as Obama campaigns on debt reduction

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President Obama’s budget director predicted a $1.2 trillion budget deficit for 2012 today, which prompted one senator to call for the president to pull down a Obama campaign ad that promises to “pay down the debt.” “For 2012, the deficit is now projected to be $1.211 trillion, $116 billion lower than the $1.327 trillion deficit projected in February,” Jeff Zients, director of the...