From the AP:
WASHINGTON – A new congressional report released Friday says the United States' long-term fiscal woes are even worse than predicted byPresident Barack Obama's grim budget submission last month.
The nonpartisan Congressional Budget Office predicts that Obama's budget plans would generate deficits over the upcoming decade that would total $9.8 trillion. That's $1.2 trillion more than predicted by the administration.
The agency says its future-year predictions of tax revenues are more pessimistic than the administration's. That's because CBO projects slightly slower economic growth than the White House.