Federal Budget Deficit Estimates Are Raised
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WASHINGTON — The Congressional Budget Office released new, higher estimates of the federal budget deficit Thursday, blaming the erosion on higher interest rates and lower-than-anticipated revenues.
Since August, the deficit estimate for fiscal 1996, starting Oct. 1, has risen from $176 billion to $207 billion, and for fiscal 1997 from $193 billion to $224 billion.
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