This year’s federal budget deficit will improve slightly thanks to lower spending on the Treasury Department‘s bank bailout and stronger than expected economic growth, falling to $1.35 trillion from the nearly $1.4 trillion previously projected, according to congressional sources citing a new analysis set to be released Tuesday by the nonpartisan Congressional Budget Office. The deficit is expected to improve over the long run as well, falling to $480 billion in 2015 from previous projections
of $560 billion, the sources said.
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