Obama's budget projects $1.6 trillion deficit
A congressional official says the Obama administration's new budget pegs the national deficit in the current fiscal year at a record of $1.6 trillion and that the deficit number for the 2011 fiscal year is $1.3 trillion.
In addition, the official said Sunday, deficits over the next decade will average 4.5 percent of the size of the economy, a level which economists say is dangerously high if not addressed. (AP)
