Obama budget forecasts bigger deficit

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President Obama’s budget request to Congress on Monday will forecast a deficit of $1.33 trillion in fiscal year 2012 and will include hundreds of billions of dollars of proposed infrastructure spending, the Wall Street Journal reports.

The projected deficit is slightly higher than the $1.296 trillion deficit in 2011.

Bloomberg notes Obama will project a deficit of $901 billion for fiscal 2013 budget, based on the assumption Congress “accepts all the White House’s policy recommendations for everything from ending Bush-era tax cuts for families earning $250,000 or more to programs for education, infrastructure and manufacturers.”

Peter Schorsch is the President of Extensive Enterprises and is the publisher of some of Florida’s most influential new media websites, including SaintPetersBlog.com, FloridaPolitics.com, ContextFlorida.com, and Sunburn, the morning read of what’s hot in Florida politics. SaintPetersBlog has for three years running been ranked by the Washington Post as the best state-based blog in Florida. In addition to his publishing efforts, Peter is a political consultant to several of the state’s largest governmental affairs and public relations firms. Peter lives in St. Petersburg with his wife, Michelle, and their daughter, Ella.