{"id":20901,"date":"2010-07-24T01:34:59","date_gmt":"2010-07-24T01:34:59","guid":{"rendered":"http:\/\/127.0.0.1\/site\/2017\/2\/1985\/forecast_federal_budget_deficit_will_exceed_1-4t_in_2010_2011\/"},"modified":"2010-07-24T01:34:59","modified_gmt":"2010-07-24T01:34:59","slug":"forecast_federal_budget_deficit_will_exceed_1-4t_in_2010_2011","status":"publish","type":"post","link":"https:\/\/kendallharmon.net\/?p=20901","title":{"rendered":"Forecast: Federal budget deficit will exceed $1.4T in 2010, 2011"},"content":{"rendered":"<p>The federal budget deficit, which hit a record $1.4 trillion last year, will exceed that figure this year and again in 2011, according to a White House forecast released Friday.<\/p>\n<p>The $1.47 trillion budget gap predicted for 2010 represents a slight improvement over the administration&#8217;s February forecast. But the outlook for 2011 has darkened considerably, primarily due to a drop in expected tax receipts from capital gains.<\/p>\n<p>White House budget director Peter Orszag noted in a conference call with reporters that the president&#8217;s budget is still on track to cut the deficit in half, as a percent of annual economic output, by the end of his first term. As the economy improves, the White House forecasts that the deficit will be just over $700 billion in 2013.<\/p>\n<p><a href=\"http:\/\/www.washingtonpost.com\/wp-dyn\/content\/article\/2010\/07\/23\/AR2010072304101.html?hpid=topnews\">Read it all<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The federal budget deficit, which hit a record $1.4 trillion last year, will exceed that figure this year and again in 2011, according to a White House forecast released Friday. The $1.47 trillion budget gap predicted for 2010 represents a<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/kendallharmon.net\/?p=20901\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":794,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[40,670,149,617,616,151,667,618,669,584],"tags":[],"class_list":["post-20901","post","type-post","status-publish","format-standard","hentry","category-economics-politics","category-budget","category-economy","category-house-of-representatives","category-office-of-the-president","category-politics-in-general","category-president-barack-obama","category-senate","category-the-national-deficit","category-the-u-s-government"],"_links":{"self":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/20901","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/users\/794"}],"replies":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20901"}],"version-history":[{"count":0,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/20901\/revisions"}],"wp:attachment":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20901"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20901"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20901"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}