Getting your player ready...
WASHINGTON — Two painful rounds of cost-cutting on Capitol Hill and higher-than-expected tax collections will push this year’s budget deficit down by $300 billion and slice nearly $1.5 trillion from deficits over the next decade, according to new White House projections.
But the report says the national debt, now $14.6 trillion, would still continue to climb if a budget proposed by President Barack Obama in February were enacted. The debt would rise to $24 trillion by 2021.
