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Federal deficit estimated at 7-year high

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The Congressional Budget Office is estimating the federal budget deficit for fiscal 2019 will be $984 million.

That would be the highest level since 2012. The deficit is up 26% in 2019 from 2018.

The Treasury Department previously estimated the deficit would surpass $1 trillion for the fiscal year ended Sept. 30. Final figures are slated to be published later this month.

Read more from The Hill.

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