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As a report released this afternoon by the Congressional Budget Office confirms, the annual deficit is creeping back up this year—to $544 billion. That’s worrying not only because it’s higher than last year, but because, for the first time since 2009 it’s rising as a share of the economy, to about 2.9 percent of GDP. Not only that, but the deficit is set to rise every year for the next decade, pushing us back over the trillion-dollar mark by 2022. We’re in a brief lull right now, but that doesn’t mean the issue is solved.

Via CBO’s Latest Budget Report Is a Reminder That Debt and Deficits Haven’t Gone Away @ Reason Hit & Run.

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