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That was then....

Obama vows to cut huge deficit in half



By MIKE ALLEN | 2/22/09 6:58 AM EST
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President Obama will announce Monday that he plans to cut the nation’s projected annual deficit in half by the end of his first term, a senior administration official said Saturday.

And six months later...this is now.
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Obama to raise 10-year deficit to $9 trillion
WASHINGTON (Reuters) - The Obama administration will raise its 10-year budget deficit projection to approximately $9 trillion from $7.108 trillion in a report next week, a senior administration official told Reuters on Friday.


The higher deficit figure, based on updated economic data, brings the White House budget office into line with outside estimates and gives further fuel to President Barack Obama’s opponents, who say his spending plans are too expensive in light of budget shortfalls.


Politically, the deficit has been an albatross for Obama, a Democrat who is pushing forward with plans to overhaul the U.S. healthcare industry — an initiative that could cost up to $1 trillion over 10 years — and other promises, including reforming education and how the country handles energy.