"The budget request for fiscal year 2013, which begins Oct. 1, projects tax and spending for a decade. For 2013, the budget forecasts that, allowing for Mr. Obama’s policies, total spending would be $3.8 trillion and revenues would total $2.9 trillion, leaving a deficit of $901 billion."
"The current year’s deficit of $1.3 trillion is the same in dollar terms as when Mr. Obama took office. But measured as a share of an improving economy it would be smaller — 8.5 percent of the gross domestic product compared to 9.2 percent in 2009."
http://www.nytimes.com/2012/02/14/us/politics/obama-budget-raises-taxes-on-the-rich-to-spend-on-jobs.html?hp
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