Spending Surge On Financial System Pushing Deficit Towards $1 Trillion

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Spending Surge On Financial System Pushing Deficit Towards $1 Trillion Congressional leaders and both presidential candidates are proposing billions of dollars in tax breaks and other measures to stoke economic growth, a surge in spending that could send the federal deficit soaring toward $1 trillion this year, creating the deepest well of red ink since the end of World War II. Congress could consider additional spending as soon as next month, potentially digging the nation's hole even deeper.

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