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White House projects deficit will exceed $1T

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White House Office of Management and Budget officials expect the federal deficit will surpass $1 trillion this year.

It would be the first time the U.S. deficit has passed that mark since the four-year period after the Great Recession.

Overall federal debt has surpassed $22 trillion.

On the campaign trail, President Donald Trump pledged to wipe out the deficit and all of the federal debt load.

Read more from The Hill.


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